The Higher Education Loans Board (HELB) has launched an ambitious five year strategic plan (2019-2033) that is mainly focused on ways and means of improving the customer experience. The implementation of the ambitious plan (dubbed The HELB Agenda 2019 – 2023), is estimated to cost Kshs. 90.7 billion within a span of five years. Critical to its success will be delivering on the customer experience – aptly called the bull’s eye. The strategic plan will also be anchored on national, continental and global development agendas namely: Vision 2030, The Big 4, the 17 Sustainable Development Goals as well as the African Union Agenda 2063.
The demand for higher education in Kenya is set to grow exponentially in a few years time since the government has already embarked on a mission to achieve one hundred percent transition from primary to secondary school levels. HELB therefore, more than ever before, needs to mobilize enough funds in preparation for this anticipated growth.
In the 2017/18 financial year, HELB used Kshs. 11.4 billion to finance 248,050 students. Fifty three percent of the organization’s budget comes from the Exchequer, while forty seven percent is from the recovered loans. In addition to university students, HELB also funds their colleagues from the Technical and Vocational Education and Training (TVET) institutions. It is estimated that in 2019, 262,764 students will join TVET institutions, while 90,688 will be placed in universities. HELB has also broken new ground by financing Kenyan students who are undertaking higher education in the diaspora.
Further, in line with the board’s strategy of continuously improving the customer experience, it also launched ISO 9001:2015 quality management system, after transiting from ISO 9001: 2008 version in June, 2017. Another feather in the organization’s cap is the growth of its asset base from Kshs. 30 billion in 2012/2013, to Kshs. 74 billion in 2017/2018.