School Proprietors, dfcu Discuss Financing Solutions to help Sustain Schools Post COVID-19

Owners and operators of schools in Uganda have applauded dfcu Bank for the excellent customer service and the support offered to help them weather the Covid-19 pandemic and reopen their institutions.

This was during the first dfcu schools’ engagement held this morning at Hotel Africana in Kampala, attended by school proprietors, directors, bursars, and head teachers as well as dfcu Bank Regional Managers and other staff members.

As part of the engagement, the dfcu bank team explained the different financing solutions available to the institutions and received feedback from the proprietors.

The schools called upon the bank to hold financial training workshops in their different regions to further empower them to make the right financial decisions to sustain their schools.

Making a keynote address, dfcu Bank Head of Business Banking Ronald Kasasa commended the school proprietors for managing to reopen their institutions despite the significant challenges caused by the Covid-19 pandemic.

“When the Covid-19 restrictions were lifted, we realised that school proprietors would struggle to reopen their institutions. We therefore decided to offer some relief in form of extension of repayment periods, reduction of interest rates and many other facilities. Today, we have renewed our commitment to serve you even better. We are grateful for your feedback and look forward to continuing our dialogue with you when we visit your schools,” he noted.

“As we prepare to go into the new school term, we are ready to deal with your emerging needs and look forward to hearing what they are so that we can offer you solutions ahead time,” Kasasa concluded.

During the engagement, dfcu Bank Senior Manager Enterprise Banking William Kayongo explained the benefits of using the SchoolPay fees system and introduced the Back-to-School solution which enables schools to access up to 30% of their regular fees collection per term upfront to help with beginning of terms costs.

The bank promised to hold more regional financial literacy sessions, extend Investment Clubs to the institutions as well as look into waiving of certain fees, all in a bid to support educators.