FALSE: One will not go to Kamiti for defaulting Hustler Fund

A Facebook post saying Hustler Fund defaulters will be taken to Kamiti Prison is false.

The post was on a page dubbed Hustlers Nation and was posted on November 30, 2022.

According to the Facebook screenshot, the Hustler Fund recipient received Ksh 49,999 from the HUSTLER FUND KITTY making their M-PESA balance to be 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 further notes that one should pay before 14 days or else one will be jailed in Kamiti.

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

The Hustler Fund was launched on November 30, 2022 by President William Ruto at Green Park Terminus, Nairobi.

Hustler Fund borrowers are to use *254# to access Hustler Fund, leading network telcos announced. 

In case of default for the personal finance loan, the following is what will happen and being taken to Kamiti is not one of them.

• Interest rate will be adjusted to 9.5 per cent, 15 days after defaulter rate.

• Holder’s to be frozen 30 days after the default date.

• Customers will lose their existing credit score 30 days after due time.

• Recovery methods will be initiated for payment and interest accrued.

This fact check was published by The Star with support from Code for Africa’s PesaCheck and African Fact-Checking Alliance.