The Higher Education Loans Board (HELB) is seeking the services of debt collectors to help recover billions of funds in defaulted loans.
The board has invited interested and reputable firms with extensive experience to apply for debt collection services.
In a public notice, HELB requested interested bidders to obtain further information and inspect the tender documents at the procurement office on the 18th floor of Anniversary Towers during normal working hours.
They were further urged to view and download the respective detailed tender adverts and tender documents from the HELB website www.helb.co.ke/procurement or https://tenders.go.ke.
Interested applicants are also required to notify HELB of their participation in the tender process.
“All bidders interested in participating in the tender must notify HELB of their participation in the tender by emailing their contact details to [email protected] in case of any further addendum,” read part of the notice.
The closing date is set for Wednesday, November 9, 2022, at 11 am.
As of September 2022, HELB said the number of former university students who had defaulted on loans had dropped by 20 percent in the past six months. This translated to a drop from Ksh10.2 billion to Ksh8.4 billion.
“Some 87,391 accounts holding a total of Ksh8.4 billion are in default, while 235,833 loan accounts valued at Ksh36.3 billion are in repayment,” HELB noted.