A report by the Auditor General, Nancy Gathungu, auditing the Hustler Fund for the financial year 2023/2024, has revealed staggering irregularities in the birth dates of some beneficiaries.
According to Gathungu, Ksh 31.8 million was disbursed to 44,167 underage beneficiaries-some as young as 10 days old-and to unborn borrowers with future birth dates ranging from July 2024 to December 2073.
The report indicates that 1,186 children, aged between 10 days and 17 years, received a total of Ksh 681,395 from the Hustler Fund, while 42,981 individuals with future birth dates received Ksh 31,135,690.
According to the Auditor General, loan agreements with underage beneficiaries are unenforceable and contribute to a higher rate of loan defaults.
