Helb loans now repayable using Safaricom Bonga Points
Safaricom subscribers who are beneficiaries of Higher Educations Loans Board (Helb) will now be able to make loan repayment using Bonga Points.
The move was announced on Thursday after Education Cabinet Secretary Amina Mohammed made public a 100 per cent waiver on penalties for defaulters until June 30, 2018.
The move is aimed at encouraging loan repayment.
With the initiative launched, Helb has now partnered with Safaricom to enable its customers who benefited from the loans to repay using Bonga Points that are earned through money spent on airtime.
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HELB confirmed the new development on its official Twitter handle.
Embracing cryptocurrency, you can use your @SafaricomPLC Bonga points to repay your HELB loan – @RingeraCharles #TwendeTulipeHELB #TopInBusiness
— OFFICIAL HELB PAGE (@HELBpage) May 3, 2018
According to the plan laid down, there will be a feature that will enable Safaricom customers to repay their loans by redeeming their accumulated Bonga Points.
Currently a total of 78,000 graduates owe Helb a total of Ks8.1 billion. This year Helb plans to re-reimburse a total of Sh13.4 billion loaned, bursaries and scholarships.