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Higher Education PS Beatrice Inyangala said institutions are pursuing a range of measures to ensure survival. These include increasing student admissions, fully utilising existing facilities, and tapping into government funding through capitation, loans, and scholarships.
Since its launch in November 2022, the Hustler Fund has disbursed about Sh70 billion to 26 million Kenyans.
According to Tala, the top reasons women borrow digital loans include meeting household expenses such as food and rent, paying school fees and buying supplies, supporting small business operations, and covering medical bills.
The report, drawing from direct feedback of Tala’s customers, found that nine out of ten Kenyans who took digital loans experienced an improved quality of life
HELB warned that creating a new account could interfere with ongoing applications and may result in errors or delays.
The average interest rate charged by commercial banks on SME loans climbed from 15.5 percent in December 2022 to 16.4 percent in 2024.
The survey reveals that by May 2025, none of the sampled farmers indicated borrowing from the Hustler Fund or microfinance institutions, despite 11 percent and 13 percent respectively having used these sources just two months earlier in March.
Tharaka Nithi and Garissa were singled out for failing to clear long-standing bills, with one firm owed since 2014.
The default crisis now threatens the sustainability of HELB, which operates as a revolving fund meant to support successive generations of university and college students.