Following broader consultations with stakeholders in the higher education sector, Education Cabinet Secretary, Mr. Julius Migos Ogamba today launched the Higher Education Loans Board 2023-2027 Strategic Plan at the Nairobi Safari Club Hotel in Nairobi.

The Higher Education Loans Board has since inception made possible the dreams of many Kenyan citizens who continue to fly high Kenya’s success story locally and globally. “Since its inception in 1995 to June 2024, HELB has disbursed Kshs 169.45B to 1,696,218 beneficiaries. These beneficiaries are across various cadres in the employment sector and service of the nation and continue to make their contribution in the society. As one of the most successful case studies of Government supported revolving fund, a total of 242,801 beneficiaries have cleared their loans worth Kshs 28.19B while 463,917 beneficiaries are repaying their loans valued at Kshs 67.98B.

As a testament to strong corporate governance and fiduciary management of funds, HELB has attracted partnerships with 43 funders consequently mobilizing funds valued at Kshs. 3.02B.

“The launch of the strategic plan The HELB Plan 2023-2027 is therefore a culmination of immense efforts by the board, senior management and staff who have invested themselves over the years to live up to the HELB tagline- Empowering Dreams. Through their exceptional service to all stakeholders, they are spreading HELB’s impact across homes, communities and the national economy” said the CS, Mr. Julius Migos Ogamba

In his remarks, HELB Board Chairman, Rt. Hon. Ekwee Ethuro observed that The HELB Plan 2023-2027 underscores collective commitment to providing affordable, equitable, and sustainable higher education financing to empower more Kenyan dreams. The plan incorporates recommendations from the Presidential Working Party on Education Reforms and aligns national and international development agendas, including the Bottom-Up Economic Transformation Agenda [BETA], Vision 2030’s Medium Term Plan IV, East Africa Vision 2050, Africa Agenda 2063, and the United Nations’ Sustainable Development Goals [SDGs]. The plan set to be implemented over the next 5-year period will focus on four key strategic pillars namely: Customer Excellence, Financial Sustainability and Stewardship, Innovation and Digital Transformation, and Our People-Centricity and Compliance.

The CS called for concerted efforts to strengthen HELB’S revolving fund model through a raft of measures and incentives by the National Treasury, international development partners and the private sector. He called upon the National Treasury to consider exempting the HELB partners from funding students through the E-Citizen platform. He urged tertiary institutions to integrate financial literacy and entrepreneurship programs within their curricula to empower students with the skills needed to responsibly manage their finances. He also challenged HELB management to explore technology-driven debt management solutions that enhance the efficiency of debt management processes, minimize administrative burdens, and improve communication engagements with all stakeholders.

“It is only when we see the impressive work that HELB has done over the years that we appreciate that the new strategic plan requires all our support to make its implementation a success.” Said the Cabinet Secretary.

CPA MARY WACHIRA – MUCHEE [MRS.]

Ag. CEO, HELB

-ENDS-

Notes to the Editor

1. The Higher Education Loans Board (HELB) is a state body established by an Act of Parliament – CAP 213A in 1995 mandated to provide loans, bursaries and scholarships to Kenyans pursuing higher education in recognized Kenyan Universities and Colleges and to recover the same after completion of studies to facilitate establishment of a revolving fund. The Board is therefore well aligned to Chapter 4, Section 43 (1) (f) of the Constitution of Kenya 2010, that every person has the right to education.
2. Currently, 986, 111 loan accounts worth Kshs 127.72B have matured for repayment, while 710,107 loanees holding Kshs 41.73B have not matured. 279,393 loanees holding Kshs 31.55B are in default.

• The HELB Plan 2023-2027 defines the HELB Vision as: Sustainable and Transformative Student-Centered Financing for Tertiary Education while the mission shifts to To Provide Equitable and Impactful Tertiary Education Financing through Strategic Partnerships and Prudent Financial Stewardship. Click here to download a copy.

Click here to see the 2018-2023 HELB Strategic achievements.