Overview:
The solution is designed to ease access to fast and affordable credit for education institutions, offering loans of up to UGX 1 billion
Stanbic Bank Uganda has announced a new partnership with FinCom Technologies to introduce the country’s first fully digital lending solution for schools through the School Pay platform.
The solution is designed to ease access to fast and affordable credit for education institutions, offering loans of up to UGX 1 billion, pre-scored and cashflow-aligned credit assessments, fully digital processing without the need for branch visits, cash disbursement within 24 hours, and flexible termly repayments of up to 12 months.
Speaking during the announcement on Tuesday, Stanbic Bank’s Executive Head of Business & Commercial Banking, Tunde Thorpe, said the partnership aims to remove longstanding barriers to credit for schools by providing a simple, digital, and cashflow-sensitive solution tailored to their operational cycles.
Harriet Ssenkali, Commissioner for Private Schools and Institutions at the Ministry of Education and Sports, welcomed the development, noting that digital tools like School Pay have already improved financial transparency in schools, and that integrating timely, affordable credit into the same platform is a natural and much-needed progression.
FinCom Technologies Board Chairman Joseph Ndiho said the partnership is a major step in the company’s mission to build technology that solves real operational challenges, adding that the new service makes credit more accessible, fully digital, and aligned with the daily realities of school management.