HESLB loan recoveries hit record high as employers earn recognition

Dar es Salaam. The Higher Education Students' Loans Board (HESLB) has honoured 11 employers from Dar es Salaam and Coast regions for exemplary compliance with student loan regulations, as the board reported record loan recoveries and rising government investment in higher education financing.

The awards were presented on Friday, June 12, 2026, during HESLB Loan Day celebrations held at the board's Eastern Zone offices in Dar es Salaam.

The event also served as a public awareness campaign aimed at educating students, parents and guardians on procedures for applying for student loans for the 2026/27 academic year.

The institutions recognised were the Tanzania Revenue Authority (TRA), NMB Bank Plc, BRAC Tanzania Finance Limited, CRDB Bank, the National Social Security Fund (NSSF), National Bank of Commerce (NBC), Tanzania Empowerment Forum Limited, Vodacom Tanzania, Shifaa Pan African Hospital, Ishik Medical and Education Foundation, and Mohammed Enterprises Tanzania Limited (METL).

Speaking at the event, HESLB Executive Director Dr Bill Kiwia said the institutions had demonstrated commitment to the law by submitting information on newly recruited employees and remitting loan deductions on time.

"Today is a special day for HESLB. We have gathered not only to present awards but also to recognise the significant contribution employers make towards the national objective of investing in higher education financing," said Dr Kiwia.

He added: "Through your compliance, you are helping to strengthen the loan fund and enabling us to reach more students who require financial assistance to pursue higher education."

Dr Kiwia said HESLB's mandate goes beyond issuing loans and grants to students, noting that the board is also legally required to recover loans from beneficiaries once they enter employment.

He said loan recoveries are crucial to maintaining a sustainable revolving fund that can continue supporting future generations of students. Since its establishment, HESLB has disbursed approximately Sh9.3 trillion to more than one million beneficiaries.

According to Dr Kiwia, government funding for higher education loans has increased significantly in recent years.
Allocations have risen from about Sh560 billion when President Samia Suluhu Hassan took office to Sh916.7 billion this financial year, with spending expected to approach Sh1 trillion in 2026/27.

The board has also recorded consistent growth in loan recoveries. Collections increased from Sh169 billion in 2022 to Sh177 billion in 2023 and Sh194.5 billion in the 2024/25 financial year. HESLB expects recoveries to exceed Sh220 billion this year, setting a new record.

Dr Kiwia attributed the improvement partly to stronger cooperation from employers and increased use of technology. He said HESLB has invested heavily in digital systems and integrated databases with key institutions, including TRA and social security funds, to improve beneficiary identification and compliance.

HESLB Assistant Director for Loan Recovery, Ms Shazmin Mehboob, commended the award-winning institutions for consistently complying with the law and submitting employee deductions on time.

She said employers play a vital role in sustaining the student loan scheme by ensuring that recovered funds become available to support new beneficiaries.

"The cooperation we continue to receive from employers plays a crucial role in ensuring the sustainability of higher education financing. We encourage other institutions to follow this example and fulfil their obligations under the law," she said.

Speaking on behalf of the award recipients, TRA Deputy Director of Human Resources, Ms Tija Ukondwa, thanked HESLB for recognising the authority's contribution and reaffirmed TRA's commitment to complying with student loan regulations.

She said the authority strongly believes in adherence to the law and views loan recovery as an important national responsibility.

"When people perform well and their efforts are recognised, it motivates them to do even better. TRA will continue complying with the laws governing student loans and serve as a good ambassador to other employers," she said.

Dr Kiwia said the awards recognised organisations whose compliance contributes directly to expanding access to higher education by ensuring recovered funds are available to support new cohorts of students.

"Every shilling repaid helps another deserving student access higher education. Compliance with the student loans law is therefore an investment in the country's future human capital and economic development," he said.