HELB extends penalty waiver
HELB extends penalty waiver (the Covid-19 penalty waiver) by one month, HELB CEO Charles Ringera announced.
HELB has extended the the Covid-19 penalty waiver deadline by one month.
The 100 per cent penalty waiver was supposed to end on April 30 but has been extended to June 30.
The 100 per cent penalty waiver will be applied to Kenyans who are still paying their HELB loans or those who haven’t started paying the loans.
The penalty waiver dubbed KamilishaMalipoyaHelb was effective from March 1.
HELB targeted to collect about Sh700 million but as of March 31, the board had collected Sh202 million from 3,500 loanees.
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HELB extends penalty waiver
“We acknowledge that unemployment and underemployment and the challenging environment for loanees to start and run businesses has affected loan repayment,” Ringera said in a press release.
He said the waiver coincided with back to school hence the need to extend the deadline.
He also acknowledged that the board had been faced with funding challenges.
“This, coupled with inadequate funding from the exchequer (National Treasury) has inadvertently created a funding challenge for students seeking HELB loans,” he added.
The HELB CEO urged those who have not started paying off their loans to do so this year.
HELB has suffered inadequate funding in the past two financial years, a situation that has affected the disbursement of loans.
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