While speaking about the future of Higher Educations Loans Board (HELB), chief executive of the board, Charles Ringera said that they want to introduce education savings products and education lotteries that will be aimed towards the increment of revolving funds in the organization.
This move will mean that HELB will be eligible to mobilize funds from the public by holding raffle lotteries in a bid to raise cash to steer its loaning services to new students joining campuses. Just like SportPesa that has won the hearts of many gamble-minded Kenyans, HELB will now invent scratch tickets, SMS based raffles and an online sweepstakes that will facilitate the lotteries.
The new tact by the long known loans board in Kenya has come a year after the program’s failure to secure loans for over sixty seven government sponsored students while the ones who finally got the money had to wait for close to five months before disbursement of the funds this year.
If the new approach takes effect, HELB will lift its burdening reliance upon the heavily yoked National Treasury that has been allocating money for government sponsored campus students.
Hoping that this plan takes off soon, lets wait to add the loans board to yet another daily growing list of gambling sites.