Airtel Money Uganda has joined forces with SchoolPay and Sanlam Investments to unveil SchoolPay Savings, a new financial solution aimed at transforming how Ugandan parents plan, save, and pay for school fees.
The product addresses one of the most persistent challenges for families—the last-minute scramble and financial strain that accompanies termly school fee payments.
SchoolPay Savings allows parents to deposit as little as Shs5,000 at any time, without fixed schedules or minimum balance requirements, while earning 8% annual interest calculated daily.
Savings are securely invested through Sanlam’s regulated Unit Trust Scheme, managed by Sanlam Investments East Africa Limited and licensed by the Capital Markets Authority of Uganda.
“For many Ugandan families, school fees payments create sleepless nights of financial anxiety,” said Japheth Aritho, Managing Director of Airtel Mobile Commerce Uganda Limited.
“SchoolPay Savings changes that story forever. Instead of panic when fees are due, parents can now confidently grow their school fees savings while earning interest, reducing the burden.”
A standout feature of the scheme is zero withdrawal charges when paying school fees directly from the savings wallet—eliminating transaction costs that have long hindered parents from using their own funds for education.
Charity Atukwatsa Mutagamba, the CEO of Fincom Technologies, which operates the SchoolPay platform, said the initiative advances their vision: “Our mission has always been to make school fees payments simple, secure, and stress-free. With SchoolPay Savings, we empower parents not just to pay, but to plan ahead and grow their savings—making every shilling work harder for the family and the future of our children.”
The partnership merges Airtel Money’s extensive mobile money network, SchoolPay’s proven payment platform, and Sanlam’s fund management expertise to create a comprehensive educational financing solution.
Key Features of SchoolPay Savings
Save from Shs5,000 up to a maximum single transaction of Shs5 million
Earn 8% annual interest, calculated daily
Instant withdrawals with full flexibility
Zero charges when paying school fees from the savings wallet
Funds secured under a regulated Unit Trust Scheme
Accessible via simple USSD code *185#
The service is exclusively available to parents paying fees through SchoolPay, ensuring seamless integration between saving and payment.
