Stanbic Bank Uganda has unveiled a new Dollar School Fees Payment feature on its FlexiPay platform, enabling parents to pay tuition directly in United States dollars.
The solution is specifically designed to ease payments to international schools, minimising exchange rate losses and eliminating the inconvenience of currency conversions. The announcement was made during the second edition of the Stanbic International Schools Breakfast Meeting, held at the Four Points Hotel in Kampala under the theme “Partnering for Growth.”
Speaking at the launch, Tunde Thorpe, Executive Head of Business and Commercial Banking at Stanbic Bank, explained that the innovation was driven by feedback gathered during last year’s inaugural breakfast meeting.
“This solution is a direct response to the needs of parents and international schools,” Thorpe said. “Through the FlexiPay app, parents—whether in Uganda or abroad—can now conveniently pay school fees in dollars, helping schools receive the exact amount without incurring conversion losses. It’s part of our broader mission: ‘Uganda is our home. We drive her growth.”
Thorpe emphasised the bank’s commitment to supporting the education sector, which he described as a cornerstone of national development. He noted that in a globally connected and competitive world, offering international curricula is crucial for positioning Ugandan students on the global talent map.
“For Uganda to be globally competitive, our children must have access to foundational international education. Institutions offering these curricula play a strategic role in preparing future global citizens.”
For years, international schools in Uganda have grappled with the challenges of collecting fees in foreign currencies, often bearing losses due to fluctuating exchange rates and high conversion fees. Stanbic’s new dollar-based payment solution aims to resolve these persistent issues.
Harriet Senkali, Acting Commissioner for Private Schools at the Ministry of Education and Sports, welcomed the innovation, saying it strengthens the financial resilience and global competitiveness of international schools in Uganda.
“Uganda has 79 international schools offering various global curricula. Supporting them with credible, flexible financial tools is essential for sustainability. Many schools face operational hurdles that partnerships like this can help solve,” she said.
Albert Yiga, Manager for the Education Sector at Stanbic Bank, echoed this sentiment, describing education as the “heartbeat of the economy” and the foundation for future leadership.
He added that the bank’s support to the sector extends beyond digital payments: “We offer infrastructure loans, vehicle and asset financing, insurance packages, and Flexi Loans of up to UGX 500 million. Our goal is to support the entire education ecosystem—schools, parents, and students alike.”
The launch of the Dollar School Fees Payment feature marks another milestone in Stanbic Bank’s efforts to drive financial innovation in support of Uganda’s education sector.