Good News to University Students After HELB Introduces the Following
Good News to University Students After HELB Introduces the Following. After the Higher Education Loans Board (HELB) teamed up with Safaricom to create a new mobile wallet housed within its mobile money app, beneficiaries will now be able to obtain their loans via M-Pesa.
The platform, which is based on the popular mobile banking apps, has features that are specific to the loanee, like the capacity to apply for a loan, make payments, check the status of an existing loan, and regularly see statements.
All clients with the M-Pesa app loaded have access to the Helb mini app under the services part of the app, while users of feature phones can access the platform by dialing the *642# USSD number from any network.
After that, users whose phone numbers were previously on file with Helb can use that code to activate their mini-apps and create a PIN for later usage.
To link their phones and activate the little app, those who have not yet registered their cell numbers with Helb must provide a phone number that is registered with the same ID number as their Helb account.
Peter Ndegwa, CEO of Safaricom, praised the invention and said it will bring much-needed comfort to customers who receive Helb loans.
We appreciate the chance to work with Helb as a reliable partner in addressing the changing needs of their tech-savvy clientele. We will develop and implement mobile and digital solutions through this cooperation that, in the words of Mr. Ndegwa, “enable all beneficiaries to conveniently access and manage HELB funds and services on their cell phone.”
Helb and Safaricom have partnered to offer our customer base of students in higher education a mobile wallet solution in order to better serve them. The government’s ambition to digitize all services, according to Mr. Ringera, will improve the nation’s digital competitiveness.
The Helb Universities Consultative Forum, a two-day event hosted in Naivasha, was taking place at the same time as the platform’s inauguration.
At the time, Ringera declared that the bank has since 2014 attracted approximately Sh2.1 billion in non-government funding from trust funds, foundations, and development partners. More than 55,000 people are now receiving assistance who previously would not have.
“In 2013–14, Helb started its effort to gather outside funding in an effort to supplement government support from sources other than the exchequer. The official added that without Helb’s efforts, 40 partners would not have contributed more than Sh2.1 billion, preventing them from continuing to help more than 55,000 people who would otherwise lose it.