The Hustler Fund saga just took a wild turn worthy of a skit! Remember those days when the Hustler Fund was launched, promising a financial lifeline to millions of Kenyans? Well, it seems the script has been dramatically rewritten, courtesy of Cooperatives and MSMEs Development Cabinet Secretary Wycliffe Oparanya.
In a recent session at the Senate, Oparanya dropped a bombshell that has left many Kenyans scratching their heads. He confessed that when he was firmly planted in the opposition camp, he actively encouraged borrowers to not repay their Hustler Fund loans. Yes, you read that right. The very man now in charge of the fund was once its biggest critic, urging people to essentially treat it as a freebie!
Cue the collective gasp from senators and the public alike. Nairobi Senator Edwin Sifuna, clearly bewildered, challenged Oparanya on his previous stance, pointing out that the CS had, at one point, even suggested the fund was a grant – free money with no strings attached.
Oparanya's response? A candid admission that times and positions have changed. "I never heard of Hustler Fund being a grant. I was only in the same boat with you, Senator Sifuna, when we were saying that this money would not be paid. I'm in a different boat now," he confessed.
And just like that, the tune changed. Oparanya, now firmly on the government's side, is singing a completely different melody. "I'm saying that Kenyans who have borrowed this money [should] pay because I feel that this money is a good initiative that will help many Kenyans," he declared, emphasizing the fund's potential to uplift millions.
This dramatic flip-flop has left many wondering: what exactly prompted this change of heart? Was it a genuine realization of the fund's importance, or simply a matter of political expediency? Is it a case of "where you stand depends on where you sit?"
Oparanya, to his credit, acknowledged the fund's challenges, particularly the widespread defaults that plagued its early days. He attributed this to a post-election perception among the public that the loans were essentially a reward from the government, not something to be repaid. "When such initiatives come up after elections, members of the public think that they are being rewarded. That’s why we had so many defaulters when the fund started," he explained.
He also vehemently denied the notion that the fund was ever intended as a grant, clarifying that the government is actively implementing measures to recover the outstanding loans. "We are working on a system to ensure this money is recovered so that many Kenyans benefit," he stated, emphasizing the need for the program's sustainability.
Amidst the controversy, Oparanya did offer a glimmer of good news. He revealed that two million borrowers have been promoted to a higher credit limit, thanks to their consistent repayment records. These "good borrowers" are now eligible for bridging loans of up to Ksh.150,000, a reward for their financial responsibility.
However, the elephant in the room remains: what about the rest? The millions who haven't repaid their loans? Oparanya's assurance that the government is "working on a system" to recover the money leaves much to the imagination. Will it be a gentle nudge or a more forceful approach? The details remain shrouded in mystery, but one thing is clear: the government wants its money back.
This whole saga raises a crucial question: has the Hustler Fund become a political football, tossed back and forth between opposing sides? Oparanya's dramatic U-turn suggests that political positions can significantly influence one's perspective on even the most well-intentioned initiatives.
The Hustler Fund, designed to empower millions of Kenyans, now finds itself caught in a whirlwind of political drama. Its success, and indeed its very survival, may depend on how effectively the government navigates this turbulent landscape.
