HELB Latest Update to University Students
HELB Latest Update to University Students. Beneficiaries can now access their loans using M-Pesa after the Higher Education Loans Board (Helb) collaborated with Safaricom to launch a new mobile wallet contained in its mobile money app.
The platform has also been expanded to include additional loanee-focused features like loan application, repayment, status checking, and access to periodic statements. The platform closely mirrors the popular mobile banking apps that are currently available.
All clients who have the M-Pesa app loaded can use the Helb mini app in the “services” section, while users of feature phones must dial the *642# USSD code from any network in order to access the platform.
Beneficiaries who have previously registered their phone numbers with Helb will then receive a code to activate their tiny apps and generate a PIN for future access after inputting their phone number.
Those who have not yet registered their mobile numbers with Helb will need to submit a phone number that is registered with the same ID number as their Helb account in order to link their phones and activate the small app.
Safaricom CEO Peter Ndegwa complimented the concept and said that it will give Helb loan recipients much-needed convenience by letting them manage their money easily.
In a world that is progressively turning digital, we are delighted to be Helb’s go-to partner in introducing innovations that address their clients’ evolving needs. We will create and deploy mobile and digital solutions through this collaboration by enabling all beneficiaries to easily access and manage HELB funds and services on their mobile device, said Mr. Ndegwa.
Helb’s chief executive, Charles Ringera, said the move is in line with a bigger government effort to digitise public services.
Helb and Safaricom have teamed to provide higher education students with a mobile wallet option that will greatly enhance their use of our services. With the government’s initiative to accelerate the digital transformation of the nation by digitising all government services, which aims to increase digital competitiveness, Mr. Ringera stated.
The two-day Helb Universities Consultative Forum that was going place at the time in Naivasha is when the platform was unveiled.
In order to complement government funding, Ringera disclosed during the occasion that the financial institution has raised over Sh2.1 billion from outside sources since 2014, including trust funds, foundations, and development partners, among others. More than 55,000 individuals who otherwise would not have received aid now do as a result.
The purpose of Helb’s initiative to mobilise external resources was to secure funds from sources other than the exchequer to augment government support. This endeavour was launched in 2013–2014. According to the official, Helb has now generated more than Sh2.1 billion from 40 partners, supporting more than 55,000 users who would not have continued to receive aid otherwise.