Safaricom Companions With HELB to Disburse Loans through M-PESA

Safaricom and the Increased Schooling Loans Board (HELB) have introduced a brand new partnership to launch the HELB Cellular Pockets and HELB M-PESA Mini App.

The HELB Cellular Pockets will allow college students to obtain the maintenance portion of their pupil loans on to their M-PESA accounts. Moreover, the HELB M-PESA Mini App will permit all HELB beneficiaries to handle their accounts, entry their HELB repairs, withdraw funds, repay loans, apply for subsequent loans, view their mortgage standing, and entry their statements all from an Android or iPhone app.

“This partnership with Safaricom will empower beneficiaries with much more comfort and tremendously improve their expertise when accessing funds and our providers. All HELB beneficiaries can now entry all our providers by the HELB Mini App or by dialling *642#, the place they’ll apply for subsequent loans, entry their HELB repairs funds, withdraw funds, view their mortgage standing, entry their statements, and repay loans, all from characteristic telephones, an Android and iPhone app,” mentioned Charles Ringera, CEO of HELB.

All M-PESA clients can entry the HELB Mini App beneath the “Companies” part on the M-PESA Tremendous App. Beneficiaries who’ve already registered their cell phone numbers with HELB might want to enter their cellphone quantity and obtain a code to activate the Mini App and set a PIN for subsequent entry.

Beneficiaries who haven’t but registered their cellular quantity with HELB might want to enter a cellphone quantity registered to the identical Nationwide ID linked to their HELB account to attach their numbers and activate the Mini App.

“We’re honored to be HELB’s accomplice of option to ship improvements that meet the evolving wants of their clients in a quickly digitizing world. By means of this partnership, we’ll construct and ship cellular and digital options that may additional empower all beneficiaries with extra comfort by enabling them to simply entry and handle HELB funds and providers on their cell phones,” mentioned Peter Ndegwa, CEO of Safaricom.

Beginning with first-year college students making their first utility, all beneficiaries can have the choice to obtain the maintenance portion of the HELB mortgage by M-PESA or the cellular pockets.

This selection will step by step be rolled out to present HELB beneficiaries of their second and later years of examine, permitting them to change to receiving their repairs on the cellular pockets.

Safaricom and HELB are additionally working to combine different cellular cash providers, in addition to M-PESA, into the pockets, enabling college students to obtain funds by these providers. The characteristic will probably be deployed within the coming months.