Stanbic Bank Uganda has entered a strategic partnership with FinCom Technologies, the developers of the SchoolPay platform, to introduce the country’s first fully digital lending solution tailored for schools.
The initiative is set to give thousands of private education institutions instant access to pre-scored, cashflow-aligned credit through a digital platform they already rely on for processing tuition payments.
The development marks a significant advancement in the digitisation of education finance—an area that has long been hampered by manual paperwork, slow approvals, and the lingering financial strain caused by the Covid-19 pandemic.
SchoolPay currently serves more than 15,000 schools and handles over half of private-sector tuition payments in Uganda.
With the new integration, Stanbic Bank becomes the first financial institution to embed credit access directly into the platform, strengthening its influence in the education banking space.
Stanbic Bank positions the partnership as part of a broader national effort to revitalise a sector that suffered one of the world’s longest Covid-19 school closures. Despite signs of recovery, many private institutions continue to face financial instability.
Tunde Thorpe, Executive Head of Business & Commercial Banking at Stanbic Bank Uganda, said the digital lending solution is designed to ease access to credit and support school recovery.
“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.
With the new system, schools can access up to shs1 billion without visiting a physical branch. They can also monitor loan applications in real time, reducing delays associated with traditional manual processes. For many proprietors, this shift represents a move toward more transparent and predictable financing.
FinCom Technologies Board Chairman, Joseph Ndiho, said the partnership reflects the company’s mission to use technology to address structural challenges in the education sector.
“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 digital financial tools improve visibility, minimise revenue leakages, and enhance long-term planning for schools that support thousands of teachers and service providers.
Harriet Senkaali, Commissioner for Private Schools & Institutions at the Ministry of Education, welcomed the new capability, noting its potential to boost accountability and operational efficiency.
“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 said.
The initiative is aligned with Stanbic Bank’s Positive Impact Framework, which places financial inclusion, enterprise development, infrastructure investment, climate resilience, and social impact at the centre of its business strategy.
By enabling schools to upgrade classrooms, expand ICT infrastructure, improve sanitation, or stabilise operating budgets, the partnership is expected to strengthen Uganda’s human capital development.
Marking 35 years of operations in Uganda, Stanbic Bank reaffirmed its commitment to sectors critical to national socioeconomic progress, with education highlighted as a key driver of inclusive growth and long-term economic resilience.
