HELB to be scrapped under new Bill, replaced by Funding Authority
The Tertiary Education Placement and Funding Bill, 2026, proposes to give the new authority powers to mobilise funds for lending to students and trainees in tertiary institutions through the Tertiary Education Fund...
✨ Key Highlights
A new bill proposes to scrap the Higher Education Loans Board (HELB) and replace it with a new entity, the Tertiary Education Funding Authority, aiming to streamline financial support for students.
- The Tertiary Education Funding Authority would consolidate the functions of HELB, the Universities Fund Board, and the TVET Funding Board.
- The authority will be empowered to mobilize funds from various sources, including government allocations, investments, and private capital, for student lending through the Tertiary Education Fund.
- The proposed legislation, sponsored by Majority Leader Kimani Ichung’wah, also outlines plans for scholarships, data management, and loan recovery.
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Co-op Bank profit after tax up 28pc to Sh18bn in H1 - August 2026
Co-operative Bank has reported a significant 28 percent increase in profit after tax for the first half of 2026, reaching Sh18 billion. The Central Bank of Kenya has simultaneously maintained its benchmark interest rate at 8.75 percent amid steady inflation and global economic uncertainties. Absa Bank Kenya has clarified that mortgage approval is not the final step in homeownership, emphasizing the critical legal and administrative processes that follow before property transfer. These stories highlight the banking sector's performance and the financial landscape facing consumers. Additionally, a new bill proposes to scrap the Higher Education Loans Board and replace it with the Tertiary Education Funding Authority to streamline financial support for students.
