The fund will be administered by the Higher Education Loans Board (HELB) and will be disbursed in the form of loans and bursaries.
HELB’s Chief Executive Officer, Charles Ringera said the partnership with the Housing Finance Foundation is in line with HELB’s plan to channel more funds to finance students in the TVET institutions who will be a major input in providing the technical skills required to achieve a middle level economy.
The Government plans to reform TVET institutions to align them with the needs of the Constitution and to provide learning to the large number of students who leave primary and secondary schools.
HF Foundation Executive Director Winnie Imanyara said the Foundation is working with other stakeholders to propose competency-based curriculum content for adoption by the Ministry of Education, Science and Technology.
“Globally, TVETs are shifting from time-bound curriculum-based training to flexible and competency-based training; this partnership with HELB is intended to increase enrolment rate in TVETs to meet the growing demand for qualified artisans,” said Imanyara.
The Foundation is intending to create an “Army of 1 million Artisans” for Kenya and for the East African region in general within the Building and Construction Industry.
The Army of 1 Million Artisans’ flagship project will ensure that the building and construction industry gains from availability of world class technical personnel to expand their market share.
She said that TVET institutions provide the economy with skilled labour crucial in boosting the country’s competitiveness in global markets and fostering economic growth and social development as a whole.