Stanbic Bank, FinCom unveil Uganda’s first fully digital school lending solution, marking major breakthrough in education finance
The collaboration opens immediate access to pre-scored, cashflow-aligned credit for more than 15,000 private schools, all delivered through the same digital platform that already processes over half of all private-sector tuition payments nationwide.
In a landmark move set to redefine education financing in Uganda, Stanbic Bank Uganda has partnered with FinCom Technologies, the innovators behind the widely used SchoolPay platform, to launch the country’s first fully digital lending solution tailored specifically for schools.
The collaboration opens immediate access to pre-scored, cashflow-aligned credit for more than 15,000 private schools, all delivered through the same digital platform that already processes over half of all private-sector tuition payments nationwide. The development represents a decisive step in modernising a sector long burdened by paper-based processes, delayed credit assessments, and the lingering financial shocks of the Covid-19 shutdown.
Rebuilding a Sector Still Recovering From Covid-19
Stanbic Bank positioned the initiative as a strategic intervention aligned with Uganda’s broader recovery and development agenda. With schools having endured nearly two years of closure during the pandemic—one of the longest interruptions globally—many institutions continue to face liquidity gaps and slowed infrastructure development.
Tunde Thorpe, Executive Head of Business & Commercial Banking at Stanbic Bank Uganda, said the partnership is designed to remove those barriers through technology-driven, accessible lending.
“For nearly two years during the Covid-19 shutdown, Uganda’s schools faced unprecedented 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,” Thorpe said.
“By leveraging technology to increase access to affordable finance, we are strengthening the very institutions that shape the country’s future.”
Through the integration, schools can now access financing of up to UGX 1 billion without visiting a branch, track loan status in real time, and avoid the bottlenecks common with traditional lending. For headteachers and school proprietors accustomed to weeks-long paperwork, the shift to an instant, transparent, platform-based system is transformational.
FinTech as a Catalyst for Equity and Efficiency
FinCom Technologies Board Chairman Joseph Ndiho described the partnership as a breakthrough in removing structural financing challenges that have constrained school management for decades.
“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,” Ndiho said.
He added that digitising school financial operations not only improves convenience but also deepens financial visibility, reduces leakages, and enables better planning—outcomes essential to institutions that employ thousands of teachers and support local supply chains.
Government Welcomes Boost to Efficiency and Transparency
Harriet Senkaali, Commissioner for Private Schools & Institutions at the Ministry of Education, applauded the initiative as a timely innovation that strengthens both accountability and service delivery.
“Digital tools like SchoolPay have improved financial transparency in our schools. Integrating affordable, timely credit onto the same platform is a natural and welcome progression. We commend Stanbic Bank and SchoolPay for providing solutions that support better learning environments and institutional stability.”
She reaffirmed the Ministry’s commitment to advancing digital transformation in private education, which serves a large share of Uganda’s learners.
Advancing Stanbic’s Positive Impact Agenda
The initiative forms part of Stanbic’s broader Positive Impact Framework, which integrates financial inclusion, enterprise development, infrastructure improvement, and social investment into its core operations. By enabling schools to upgrade infrastructure—such as classrooms, ICT facilities, sanitation, and digital capabilities—the bank aims to reinforce the country’s human capital foundations.
As Stanbic marks 35 years of serving Uganda, the institution said it remains committed to investing in sectors that drive inclusive growth, with education positioned as a cornerstone of national competitiveness and long-term economic resilience.
