Helb To Be Disbursed via M-Pesa in a New Move
Higher Education Loans Board beneficiaries will now be able to receive their loan disbursements through M-Pesa.
It follows a partnership between the board and Safaricom to launch the Helb mobile wallet and Helb M-Pesa mini application.
The mobile wallet is aimed at enabling students to receive the upkeep portion of their loans directly to their M-Pesa accounts.
The mini app on the other hand will enable students to manage their accounts.
With the app, students will be able to access their Helb upkeep funds, withdraw funds, repay loans, apply for subsequent loans, view their status and access their statements from Android or iPhone apps.
“The partnership will empower beneficiaries with even more convenience and greatly enhance their experience when accessing funds and our services,” Helb CEO Charles Ringera said.
“Through this partnership, we will build and deliver mobile and digital solutions that will further empower all beneficiaries with more convenience by enabling them to easily access and manage Helb funds and services on their mobile phones,” Safaricom CEO Peter Ndegwa said.
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In a statement on Thursday, Safaricom said the rollout will start with first year students who will be making their first loan application.
The option will then be gradually rolled out to existing Helb beneficiaries in their second and later years of studies.
