Stanbic Bank, FinCom Unveil Uganda’s First Fully Digital Lending Solution for Schools

Stanbic Bank Uganda has teamed up with FinCom Technologies—developers of the popular SchoolPay platform—to roll out the country’s first fully digital, pre-scored, and cashflow-sensitive lending solution tailored for education institutions.

The new partnership gives thousands of private schools instant access to financing, enabling them to stabilise operations, upgrade infrastructure, and fast-track their digital transformation efforts.

SchoolPay, which is used by more than 15,000 schools to process tuition payments, will now double as a loan-access platform. Through the system, schools can apply for financing of up to UGX 1 billion, monitor application progress in real time, and avoid paperwork or bank branch visits altogether. Loan assessments are synchronised with schools’ revenue cycles, ensuring credit is issued in line with their actual cashflow patterns.

Speaking at the launch, Tunde Thorpe, Executive Head of Business & Commercial Banking at Stanbic Bank Uganda, said the initiative reflects the bank’s broader mission.

“When schools thrive, Uganda thrives. This partnership enables us to extend credit in a simple, digital, and cashflow-aligned manner, supporting the institutions shaping our country’s future.”

FinCom Technologies board chair Joseph Ndiho noted that the collaboration demonstrates technology’s role in addressing everyday operational challenges for schools.

“We are committed to building solutions that solve real problems. By integrating digital credit into SchoolPay, we are making financing more accessible and responsive to the realities of school management.”

The Ministry of Education welcomed the innovation. Harriet Sekali, Commissioner for Private Schools and Institutions, said platforms like SchoolPay enhance financial transparency and strengthen school governance. She added that linking affordable credit to digital payment systems improves the learning environment and institutional resilience.

The initiative also supports Stanbic Bank’s Positive Impact Framework, which focuses on expanding financial inclusion, nurturing enterprise growth, improving infrastructure, and driving social impact. Many of the beneficiary schools are women-led, creating ripple effects for youth, communities, and smallholder farmers linked to school supply chains.

As Stanbic Bank marks 35 years of contributing to Uganda’s development, this new digital lending solution underscores its long-term commitment to sectors that anchor both economic progress and social well-being.