A five-member delegation from Zambia’s Higher Education Loans and Scholarships Board (HELSB) paid a visit to Ghana to understudy the operations of the Students Loan Trust Fund (SLTF). The visit is part of HELSB’s strategic initiative to share knowledge and gain insight into best practices in higher education financing to enhance its operations.
As part of their objectives, the delegation aims to explore new innovations and technologies used by the SLTF, particularly in the areas of loan disbursement, recovery; sustainability strategies and Ghanaian policies and reforms on higher education financing among others.
The delegation was led by Hon. Geoffrey Samukonga, Board Chairman of HELSB, other members include, Mrs. Monde Kanyanga, Board Member; Mr. Clyde Siamachoka, Deputy Director of Human Resources and Administration; Mr. Francis Michael Banda, Senior Database Specialist; and Mr. Sam Mwaba, Senior Loan Recoveries Officer.
During their stay, the delegates engaged in deliberations with the SLTF Management Team, focusing on key areas such as effectiveness of SLTF’s funding sources, Loan Application and Disbursement Processes; Repayment and Recovery Strategies; Corporate Governance, Risk & Compliance Issues; Media and Stakeholder Engagements
The SLTF’s CEO, Mr. Nuhu Bayorbo Mahama, highlighted the Trust Fund’s ongoing transformation and expressed a strong interest in partnering with HELSB for the mutual benefit of students in both Countries. He emphasized that the collaboration between the two AAHEFA Sister Agencies could positively impact youth in Zambia and Ghana.
As part of the study tour, the Zambian delegation visited the Ministry of Education and the Ghana Interbank Payment and Settlement Systems (GhIPSS), which supports the Trust Fund’s operations. The delegation held separate meetings with Hon. Yaw Osei Adutwum, Ghana’s Minister of Education, and Mr. Kwadwo Ntim, General Manager of Technology and Operations at GhIPSS.
Hon. Adutwum briefed the delegation on the Ministry’s role in Ghana’s education sector, highlighting the Government’s effort to promote Science, Technology, Engineering, and Mathematics (STEM) education. He noted the SLTF’s contribution to this initiative by the priority given to students offering STEM related courses among its Means Testing variables.
The delegation’s visit to GhIPSS availed the opportunity to gain insights into their operations in relations to IT payment and money transfer platforms which could be used for students’ loan disbursements.
Hon. Samukonga, Board Chair of the HELSB expressing interest in the operations of GhIPSS was particularly impressed by the effectiveness of SLTF and GhIPSS partnership and suggested exploring similar collaborations between GhIPSS and HELSB in Zambia.
The Delegates expressed appreciation to SLTF’s Management for the warm reception and the opportunity to learn from their experiences. They also indicated that the lessons learnt during the study visit would be valuable in improving HELSB’s operations.
