Helb has given loan defaulters 30 days to start repaying their loans before the institution publishes their names and pictures on Newspapers.
The institution has stated that failure to start repaying or clearing the loan, all defaulters will see their names with pictures on local dailies. The list of names will date back to 1975 when Helb was established.
“Please note that the names and pictures of HELB loan beneficiaries who have defaulted repayment of the loan from 1975 to date shall be published in the leading newspapers after expiry of 30 days from the date of this notice and thereafter legal action may ensue against each defaulter as stipulated in the HELB Act”, the announcement read in parts
Given the high number of unemployed HELB beneficiaries, the institution will have to take legal action on more than 100,000 Kenyans.Currently,there are more than 100,000 loan defaulters in Kenya and the number is rising steadily.
