President William Ruto on Wednesday, November 30, launched the much-awaited Hustler Fund.
The Head of State noted that the fund would benefit more than 15 million Kenyans adding that it would also liberate people from predatory lenders.
“We are establishing a culture of saving, investment, and social security,” President Ruto stated.
Immediately after the launch, Kenyans began to register for the fund by dialling *254# from any of the three mobile phone network providers.
However, Kenyans noticed that one was required to provide his/her MPesa pin during registration. Nairobileo.co.ke indeed confirmed that your MPesa pin is one of the requirements while registering for the Hustler Fund loans.
A section of Netizens was quick to ask why the application required your MPesa pin arguing that they are different platforms.
Another section claimed that it was a breach of data privacy claiming that the two should have different pins since their separate applications.
Another asked what was the connection between MPesa and the Hustler fund. One Kenyan asked Fintech experts to explain why the Hustler Fund application would ask for your MPesa pin while other digital lending apps don't.
Here are the reactions;
Government Fuliza is the first loan lender to ask for a customer's Mpesa Pin. Many questions than answers.— KANU Women Congress (@KWC_Congress) December 1, 2022
Hustler Fund application asking for MPesa PIN... 🚩🚩🚩🚩— Eric Mugendi (@mougendi) November 30, 2022
Why is the Hustler Fund asking for my MPESA PIN?— Marvin Chege (@marvin_chege10) December 1, 2022
No loan lender has done this before... pic.twitter.com/dPEcsS47ZD
Why you need to avoid Hustlers Funds!!!— George Diano Towett (@georgediano) November 30, 2022
1. Unlike Fuliza & all other lending apps, There's no privacy & data protection. Ask yourself why they need your M-pesa pin instead of ID number. This will give them direct access to your M-pesa. In programming it's called API.
Enter Mpesa pin... Alaa hustler fund why prompt for my mpesa pin? Tala doesn't ask for my pin... Fintech experts should explain this. pic.twitter.com/jwdl1OsBcO— Kawangware Finest ™ (Geoffrey Moturi) (@cbs_ke) November 30, 2022