Issued by: WMC Africa
Stanbic Bank Uganda has partnered with FinCom Technologies, creator of the SchoolPay platform, to deliver a digital lending solution for schools in the country.
The partnership gives private education institutions access to pre-scored, cashflow-aligned financing through a platform already used to manage school fees.
SchoolPay currently serves more than 15,000 schools and processes over half of all private-sector tuition payments in Uganda. Through this integration, Stanbic Bank becomes the first financial institution to embed credit functionality into the platform.
Addressing Post-Pandemic Financial Pressures
Stanbic Bank said the partnership forms part of its support for the education sector. During the Covid-19 pandemic, Uganda’s schools endured nearly two years of closure—amongst the longest disruptions globally. Whilst many institutions survived, financial recovery has remained uneven.
Speaking at the launch on Tuesday, Tunde Thorpe, executive head of business and commercial banking at Stanbic Bank Uganda, said the partnership addresses barriers to credit. “For nearly two years during the Covid-19 shutdown, Uganda’s schools faced financial strain. Many institutions are still recovering. This partnership allows us to extend credit in a way that is simple, digital, and aligned with the real cashflow patterns of schools,” Mr Thorpe said.
Schools will be able to secure financing of up to Shs1bn without visiting a branch, monitor loan status in real time, and access funds more quickly than through traditional paper-based processes.
Technology and Financial Visibility
FinCom Technologies Board Chairman Joseph Ndiho said the partnership aligns with FinCom’s mission to use technology to address structural challenges.
“This partnership marks an important step in our mission to build technology that solves real challenges. Together with Stanbic Bank, we are making credit more accessible, fully digital, and aligned with the day-to-day realities of school operations,” Mr Ndiho said.
He noted that digitising school finance creates financial visibility, reduces leakages, and supports better long-term planning.
Harriet Senkaali, commissioner for private schools and institutions at the Ministry of Education, welcomed the partnership. “Digital tools like SchoolPay have improved financial transparency in our schools. Integrating affordable, timely credit onto the same platform is a natural progression. We commend Stanbic Bank and SchoolPay for providing solutions that support better learning environments and institutional stability.”
Part of Stanbic’s positive impact framework
The partnership sits within Stanbic Bank’s Positive Impact Framework, which integrates financial inclusion, enterprise development, infrastructure investment, climate resilience, and social investment into its strategy.
By enabling schools to access capital for classroom upgrades, ICT facilities, sanitation improvements, or operating budgets, the initiative supports the country’s human capital development.
Stanbic Bank, which marks 35 years of operations in Uganda this year, said it will continue to prioritise sectors essential to national competitiveness.
