Service Cops Limited through their School Pay Platfom and Furaha Finserve Uganda Limited have strategic partnership in a groundbreaking move to revolutionize education financing.
The partnership aims to enhance accessibility to school fee financing and promote financial literacy among parents and students in Uganda.
This collaboration combines Furaha Finserve’s expertise in technology built for purpose-based financing with School Pay’s innovation, digital payments experience, and commitment to education to create a seamless, user-friendly product for education financing.
“On many occasions, education tends to be a privilege of people who can afford it within a country like Uganda.Some studies have shown that almost half children drop out of school before reaching higher education. Multiple reasons contribute to this but financing is a key factor. Therefore, financing plays a key role in keeping kids in school and that what we do,” said Ian Fernandez, the CEO OF Furaha.
He explained that they have a mission to enable over 10 million African children get education over the next five years and this can be done through education financing.
The CEO of School Pay, Charity Atukwasa said they are always pleased to help digitize educational payments allover the country.
“We are currently partnering with over 20 banks and other digital payment platforms. You cannot do everything by yourself and it is the reason such partnerships like one with Furaha are key. Whereas we were able to solve the issue of making payments for schools fees, there is a bigger problem of some parents not being able to afford to pay fees in time. We are therefore happy for this partnership which will help them afford finances,” Atukwasa said.
Mr. Dennis Musinguzi, Furaha’s CEO, added, “Our collaboration with School Pay aligns perfectly with our vision of building Africa’s leading purpose-based financing platform. By leveraging our cutting-edge technology and School Pay’s commitment to education access, we are creating a solution that simplifies school fee payments and restores the dignity of parents and children across the country.”
Osbert Muganga, the general manager School Pay said this is yet another opportunity to revolutionalise the education sector in the country.
“We shouldn’t see a child being chased away not sitting their exams because they don’t have school fees. “
