Hustler Fund defaulters will not be jailed

False information was posted on Facebook about detaining Hustler Fund defaulters at Kamiti Prison.

The post was shared on a page called Hustlers Nation.

In the post, a Hustler Fund beneficiary receives Ksh 49,999 from the HUSTLER FUND KITTY, bringing their M-PESA balance to Ksh 50,000.08.

“QKT8V9NQ3VE Confirmed. You have received Ksh. 49,999 from HUSTLER FUND KITTY 00124 on 30/11/2022 at 8:30PM. Your New M-PESA balance is Ksh. 50,000.08.”

The screenshot also warns that failure to pay within 14 days may result in Kamiti jail time.

“Lipa kabla siku 14. KOSA KULIPA KAMITI PAP.”

President William Ruto introduced The Hustler Fund at Nairobi’s Green Park Terminus on On November 30, 2022.

Leading network carriers advised citizens to access Hustler Fund by dialling *254#.

The following will occur in the event that the personal finance loan is in default; being taken to Kamiti is not one of them.

  • 15 days after the default date, the interest rate will be changed to 9.5 percent.
  • 30 days after the default date, the holder’s account will be frozen.
  • Customers that pay late will lose their current credit score for 30 days.
  • For payment and accumulated interest, recovery procedures will be started.

Written by Brian Mayodi

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