A bombshell report from Auditor General Nancy Gathungu has uncovered significant financial irregularities at the Hustler Fund, raising serious questions about the management and oversight of the government-backed lending program.
The findings, released earlier this week, detail millions of shillings disbursed to ineligible recipients, including underage and even unborn borrowers.
According to the audit, a staggering Sh31.8 million was loaned to 44,167 individuals classified as minors or not yet born at the time of disbursement.
Among the most alarming revelations is that 1,186 children—some as young as 10 days old—received a total of Sh681,395 in loans.
The report further notes that 253,717 registered borrowers listed birth dates ranging from July 2024 to December 2073, suggesting they do not yet exist.
The irregularities have sparked outrage among taxpayers and watchdog groups, who are demanding accountability for what appears to be a catastrophic failure in the fund’s verification processes.
Critics argue that the disbursements damage the Hustler Fund’s stated mission of empowering small-scale entrepreneurs and vulnerable citizens.
Officials overseeing the Hustler Fund have not yet responded to the allegations.
The Auditor General has called for an urgent review of the program’s operations and stricter controls to prevent further misuse of public funds.
Kenyans now want EACC to take action against those found incapable of swindling hustlers’ money, launch a deeper investigation into how such lapses occurred and who bears responsibility.
Some Kenyans claim that if EACC does not go after them, then many will default on their loans citing being a toothless integrity board.
