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Government has announced that the Higher Education and Loans Board (HELB) has recovered about K320 million as at February 2023 from the loans given to students from seven higher institutions of learning.
Ministry of Education Permanent Secretary in-charge for Technical Services, Joe Kamoko, said this was a major improvement from 2018 in which the Board only managed to recover K8 million.
“The student loan recoveries have increased from K8 million in 2018 to K320 million as at February in 2023 accumulatively. This is a commendable effort by Management and Staff of the Institution,” He said.
Kamoko said this during the launch of the Higher Education and Loans Board 2022 to 2026 strategic plan in Lusaka on Monday in which it wants to improve loans and scholarships administration.
He said the Plan is being driven by eight strategic objectives around improved Student Loan Disbursement, Recoveries, Administration of Scholarships and Governance Systems.
“The launching of the Higher Education Loans and Scholarship Board Strategic Plan demonstrates government’s desire to not only enhance access to quality education at higher education levels through provision of loans and scholarships but also assure quality livelihoods to the people of Zambia in general,” Kamoko said.
He said this Strategic Plan represents the Loans Board’s expression of ambition and collective commitment to progress in a defined direction.
“The Board should be keen on attaining excellence in the administration of loans and scholarships, financial sustainability and general operational excellence to steer the country towards achieving the economic, social and political goals enshrined in the Eighth National Development Plan and Vision 2030, which place premium on human capital development,” Kamoko said.
Meanwhile, acting HELSB Chief Executive Officer, Floyd Ndabulula, said the plan is deliberately biased towards the core business emphasizing realisation of excellence in administration of loans and scholarships, loan recoveries, investments and resource mobilization.
“The support functions have in this regard been aligned towards meeting the national demand for human capital,” Ndabulula said.
Contributed by Augustine Sichula
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