HELB Looking to Ease Financial Pressure by Floating Ksh 500 million bond

The Higher Education Loans Board (HELB) has made public plans to float a Ksh 500 million bond despite its numerous struggles to recover billions of shillings from previous beneficiaries that have defaulted.

According to the chairman of Helb, Ekwee Ethuro, the bond will be floated by 2022 after the agency tabled proposals to the Treasury last December.

The move is geared at improving cash flow and relieve pressure on the agency which relies on funds from loan repayments, deals with counties and constituencies, and development partners and the Treasury.

Nevertheless, Helb is working closely with some of its partners to create an effective model for funding students.

Indeed, Helb is making plans to increase the minimum loan to each student from the current Sh40,000 to Sh44,000 by 2022 while increasing the number of beneficiaries from 296,219 today to 375,986

Unfortunately, the agency has faced numerous issues in terms of defaulters and recovering of money.