Economy

Ministry of Higher Education Recovers K8 Million from Ex-UNZA, CBU Students

Press Statement on the loan recoveries from Sep to Nov 2018

Public Relations Officer

Ministry of Higher Education

05/12/18

The Ministry of Higher Education through the Higher Education Loans and Scholarships Board (HELSB) has recovered K8, 688,414.91 million from the loan recovery program that commenced in September 2018.

In September 2018 HELSB recovered K2, 559, 545.69 and in October recovered K3, 092,489.86 while in November a total of K 3, 036, 379.36 was recovered.

The Loans were recovered from beneficiaries whose loans have matured since they left the University of Zambia (UNZA) and the Copperbelt University (CBU) where they pursued various studies.

The beneficiaries have been captured on the Government payroll under Public Service Management Division (PSMD).

The Ministry will start the loan deductions for those in the private sector this December month-end 2018.

Major employers of the beneficiaries like Mopani Copper mines, UNZA, CBU Zambia National Commercial Bank (ZANACO) and United Bank for Africa (UBA) already been engaged.

A total of 7,741 students are eligible for support during the 2018/ 2019 academic at CBU Riverside Campus in Kitwe.

While a total of 5,581 have successfully registered with the University and HELSB through the screening process that was conducted between 7th and 30th November 2018.

This means that 2,160 have not yet registered with the University and HELSB despite being awarded loans for the 2018/2019 academic year which commenced on 29th October 2018.

Editors Notes

The Board targeted to recover loans from 19,000 beneficiaries whose loans have matured as at December 2017.

Out of 19,000 beneficiaries, 4,870 were employed by Government while 11,876 were on the NAPSA system and employed by different companies and institutions. A total of 2,254 were either not in formal employment, outside the country or dead. The Zambia Revenue Authority (ZRA) and the Patents and Companies Registration Agency (PACRA) will be approached to assist to trace those who were in the informal sector.

Over 41,389 students have been supported through the Student Loan Scheme at the University of Zambia, Copperbelt University and Kapasa Makasa University since 2004. Loans for 23,379 beneficiaries have become mature and ready for recovery as at December 2017.

6 Comments

  1. Gangsta grabs

    Chikala Out of 19000 only 4000 employed by boma ya pf,then ati benangu you will declare them dead so that u can steal.wanvela nyele

    Reply
    • Tristan

      Gangsta Grabs, are you okay in the Head?? I highly doubt your sanity. Your nonsensical commentary is all over different articles and that impunity satisfies you? And then you die poor and wonder what went wrong! Grow up imbecile

      Reply
  2. Gangsta grabs

    Tristan dont make me commit murder on you boy,i will smack you ass with mbaula,boyi it arent my fault u cant get a woman pregnant,ask nicely i might lay u some secrete or bang her myself for u as help because mine is good pipo.hala at your boy nigger

    Reply
  3. Fulunyemba wa PF

    How many have you employed.imwe bafikala u should stop stealing during daylight.

    Reply
  4. laban mayaba

    just waiting to get a loan next year, so I hope I will get it with all the money the government has recovered

    Reply

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