Kenyan Newspapers Review: Treasury Discloses Hustler Fund Borrowers Defaulted KSh 9.9b Loans

On Friday, December 22, the Kenyan newspapers reported that parents and learners could breathe a sigh of relief after the Ministry of Education reduced subjects and lessons under the Competency Based Curriculum (CBC).

The dailies also reported the Hustler Fund was facing repayment challenges amid harsh economic times.

1. Daily Nation

A report by the National Treasury has revealed that the ratio of Hustler Fund default by borrowers is higher than in banks, saccos and microfinance institutions.

Eleven months after the fund was launched, the value of loans defaulted stood at KSh 9.9 billion, with the repayment rate at 73%.

"By the end of October, the fund had disbursed KSh 36.6 billion and realised KSh 2.3 billion in savings, benefitting 21.3 million customers with 7.5 million repeat customers whose overall repayment rate is 73%," the exchequer stated.

Treasury disclosed that Huster Fund's top borrower accessed KSh 4.5 million in 816 transactions while the top saver amassed KSh 631,491.

So far, over 20,000 groups have received KSh 151 million from the fund's chama product.

2. The Standard

Learners, teachers and parents under CBC will have a reduced workload from 2024 after the Ministry of Education reduced subjects and lessons.

In lower primary, the subjects were reduced from nine to seven, upper primary (10 to eight), while junior secondary saw the highest reduction of five subjects from 14 to nine.

Integrated Science and health education were combined into a unified subject, while life skills education and social studies underwent a similar integration.

Art, craft, music, and physical education subjects will be taught collectively as creative arts, with upper primary learners having their lessons slashed from 40 to 35.

Those in the lower primary will attend 31 lessons weekly, down from 35.

3. People Daily

A new report has painted a grim picture of Kenya's public health sector.

The Kenya Health Facility Census report showed that 90% of public health facilities were ill-equipped to deliver basic services.

The institutions were grappling with inadequate equipment and a lack of trained doctors and nurses.

"Only half of the assessed facilities had a proper pharmacy," the report stated.

Over 14,366 facilities were targeted and it was noted that only 12 counties had the required core health worker per population.

Out of the total 47 counties, 44 devolved units did not have at least three nurses per hospital, which is the threshold.

4. Taifa Leo

The Matatu Owners Association (MOA) has said it will not reduce fares during the busy festive season despite a decrease in fuel prices.

MOA chairman Albert Karakacha noted that the fuel prices were still high and they also forked out thousands to repair their matatus.

"The price of petrol and diesel dropped one week ago. We are continuing to investigate because in the market, the prices of spare parts are still high, and the price of tires is still high. However, we will review the situation as time progresses," Karakacha explained.

On Thursday, December, the Energy and Petroleum Regulatory Authority (EPRA) released the revised maximum retail prices for petroleum products that will be in place until January 14, 2024.

The cost of petrol decreased by KSh 5.00 per litre, diesel by KSh 2.00 per litre, and kerosene by KSh 4.01 per litre.

In Nairobi, consumers are paying KSh 212.36, KSh 201.47, and KSh 199.05 for a litre of super petrol, diesel, and kerosene, respectively.