Stanbic Bank Uganda has unveiled a landmark partnership with FinCom Technologies, the innovators behind the SchoolPay platform, introducing the country’s first fully digital lending solution tailored specifically for schools.
The collaboration gives thousands of private education institutions instant access to pre-scored, cashflow-matched loans — all delivered through a platform they already use for fee collection. The move marks a major modernisation of education financing, a sector long held back by manual paperwork, slow credit assessments, and the lingering financial shocks of the Covid-19 pandemic.
SchoolPay currently supports more than 15,000 schools and processes over half of all private-sector tuition payments in Uganda. Stanbic is now the first bank to embed credit services directly into the platform, reinforcing its leadership in financing the education sector.
A Strategic Push to Rebuild Uganda’s Education Sector
Stanbic framed the initiative as part of a broader national effort to strengthen a sector that endured nearly two years of Covid-19 closures — one of the longest school shutdowns in the world. While many institutions reopened, financial recovery has been uneven.
“For nearly two years during the COVID-19 shutdown, Uganda’s schools faced unprecedented financial strain. Many institutions are still recovering,” said Tunde Thorpe, Executive Head of Business and Commercial Banking at Stanbic Bank Uganda.
“This partnership allows us to extend credit in a way that is simple, digital, and aligned with the real cashflow patterns of schools,” he added. “By leveraging technology to increase access to affordable finance, we are strengthening the very institutions that shape the country’s future.”
Through the integration, schools can now access up to UGX 1 billion in financing without stepping into a branch, track loan status in real time, and bypass the bottlenecks associated with traditional paper-based loans. For many school owners and administrators, the development replaces slow, unpredictable lending processes with timely and transparent digital workflows.
Technology as a Tool for Equity and Efficiency
FinCom Technologies Board Chairman Joseph Ndiho said the partnership reflects the company’s mission to build solutions that address real structural challenges.
“This partnership marks an important step in our mission to build technology that solves real challenges,” Ndiho said. “Together with Stanbic Bank, we are making credit more accessible, fully digital, and aligned with the day-to-day realities of school operations.”
He stressed that digital finance tools do more than simplify transactions — they reduce leakages, increase visibility, and enable long-term planning for institutions that employ thousands of teachers and support staff.
Harriet Senkaali, Commissioner for Private Schools and Institutions at the Ministry of Education, praised the partnership for advancing both transparency and efficiency.
“Digital tools like SchoolPay have improved financial transparency in our schools. Integrating affordable, timely credit onto the same platform is a natural and welcome progression,” she said. “We commend Stanbic Bank and SchoolPay for providing solutions that support better learning environments and institutional stability.”
The partnership is part of Stanbic Bank’s broader Positive Impact Framework, which prioritises financial inclusion, enterprise development, climate resilience, and social investment. By democratizing access to capital, the initiative will help schools upgrade learning environments — from classrooms and ICT labs to sanitation facilities and operational systems.