Makerere University has signed a Memorandum of Understanding (MOU) with Stanbic Bank Uganda to enable staff and students to acquire laptops on a hire purchase basis.
According to the MOU, the learners and staff will be able to purchase laptops between Shs2.5 million to Shs5 million depending on one’s preference.
With a down payment of the equivalent of 20 US Dollars (Shs72,767) a student can acquire a new laptop and pay for it over a period of three years.
Under the arrangement, students seeking to acquire financing for new laptops will have to do so through their parents or guardians by filling out a form.
The scheme will also be managed through FlexiPay—an all-in-one digital solution that allows customers who have downloaded the application, to make free payments efficiently.
The laptops will also be regularly serviced at a price covered by the monthly payments.
Sam Mwogeza, the Executive Head, Consumer, and High Net Worth products at Stanbic Bank says that students can access a loan and pay Shs72,000 in monthly installments over a three-year period.
According to Mwogeza, to avoid risks such as theft and damage, the bank will have all laptops purchased under the scheme, fully insured.
Mwogeza also said that maintenance for the laptops will be managed by students.
Professor Barnabas Nawangwe tasked the student leadership to sensitize the student community to take advantage of the offer.
Shamim Nambassa, the Guild President said that during the lockdown, access to data and laptops were costly.
At the beginning of the year, Makerere University administration directed all first-year students to report with a laptop.