Stanbic Bank Uganda has joined forces with FinCom Technologies, the innovators behind the SchoolPay platform, to roll out the nation’s first fully digital loan solution designed exclusively for education institutions. This breakthrough gives private schools instant access to pre-evaluated, cashflow-aligned loans right inside the SchoolPay system, which is already a dominant platform for school fee payments across the country.
The launch marks a major leap in modernizing education financing in Uganda, a sector that has long battled slow paperwork-heavy processes, delayed credit approvals, and the financial strain left behind by the COVID-19 crisis. By digitizing the entire lending journey, the partnership is expected to dramatically reduce barriers that have kept many schools from securing timely financial support.
With more than 15,000 schools relying on SchoolPay—and over half of all private-school tuition running through the platform—the integration of Stanbic Bank’s credit services represents a transformative shift. It positions Stanbic as the first financial institution to embed lending directly into a digital school finance ecosystem, a move aligned with its plan to uplift an education sector still recovering from one of the world’s longest pandemic-related shutdowns.
According to Tunde Thorpe, Executive Head of Business and Commercial Banking at Stanbic Bank Uganda, many schools continue to grapple with liquidity challenges. He noted that the partnership offers a lifeline by providing loans that match schools’ real cashflow patterns, eliminating complexity and supporting smoother financial operations as institutions regain stability.
The digital model grants schools access to loans of up to UGX 1 billion without ever visiting a physical banking hall. Administrators can now follow the entire loan process online, from application to monitoring repayment, bringing transparency and predictability that traditional manual methods could not deliver. This ease of access enables schools to plan better and respond to operational demands more effectively.
FinCom Technologies’ Board Chairman, Joseph Ndiho, highlighted that the initiative directly addresses longstanding structural issues within the education sector. By merging digital credit with a widely trusted payment platform, the partnership enhances efficiency, minimizes financial leakages, and supports long-term planning for institutions that employ thousands across the country.
Government officials have also welcomed the development. Harriet Senkaali, Commissioner for Private Schools and Institutions, commended the move as a natural progression in improving financial integrity and operational effectiveness. She noted that adding accessible digital credit strengthens efforts to build healthier school environments and more sustainable institutions.
The project also forms a key pillar of Stanbic Bank’s Positive Impact Framework, which emphasizes inclusive finance, enterprise growth, and social development. By expanding access to working capital, the partnership empowers schools to upgrade infrastructure, invest in technology, improve sanitation, and enhance overall learning conditions—laying the groundwork for a stronger education system and a brighter future for Uganda’s next generation.
