Kampala, Uganda — Parents and private school owners across Uganda are set to receive financial relief following the expansion of a strategic partnership between Furaha Finserve Uganda Limited and Cairo Bank Uganda Limited.
The collaboration, announced during an Education Finances Summit at the Four Points by Sheraton Hotel in Kampala, aims to solve the persistent problem of school fees arrears that often lead to students being sent home.
Denis Musinguzi, the chief executive officer of Furaha Finserve Uganda, said the digital financing model is designed to bridge the gap between school budgets and parental liquidity. He noted that many schools currently collect only 30% of expected fees at the start of a term, creating severe operational stress.
Our collaboration with Cairo Bank has enabled us to scale access to education financing across the country. We have kept over 30,000 children in class across over 5,000 schools out of a network of approximately 15,000 institutions, Musinguzi said.
He explained that the digital platform allows parents to access school fees loans via USSD code 16580# or a mobile application, with funds disbursed directly to school bank accounts within five minutes.
Key features of the partnership include:
Affordable education financing
A simplified loan application process
Real-time, direct-to-school payments
Flexible repayments of up to 90 days
This ensures transparency, eliminates misuse of funds, and gives schools confidence that financing accessed by parents directly supports a child’s education, Musinguzi added.
The urgency of the intervention is highlighted by national education statistics. Only 10% of children who started primary school in 2012 completed their S6 final examinations in 2024, with school fees cited as a major barrier.
Sylvia Jagwe Owachi, the acting managing director of Cairo Bank Uganda, said the bank is leveraging its Edu Bridge loan portfolio to provide the financial backbone for these digital interventions.
By combining Cairo Bank’s financing strength with Furaha’s digital platform, we are creating a seamless ecosystem that benefits schools, parents and learners alike, Owachi said.
She noted that the bank also provides medium- to long-term investment financing of up to eight years to support infrastructure expansion, such as laboratories and technology investments required by the national curriculum.
This partnership represents a significant step forward in our commitment to enabling Ugandans access education financing and keep children in school. With very high school dropout rates, Cairo Bank is more than privileged in participating in this cause, Owachi added.
George Mutekanga, the assistant commissioner in charge of private schools and institutions at the Ministry of Education and Sports, welcomed the initiative, noting its alignment with national education priorities.
The competence-based curriculum requires significant investment in practical learning facilities and vocational training. Partnerships like this are essential in ensuring private schools are adequately supported to meet these requirements, Mutekanga said.
Hajjat Zauja Ndifuna, the executive secretary and director of Mbogo Schools, described the digital loan model as a practical bridge for families struggling with the rising cost of education.
With the rising cost of implementing the competence-based curriculum, schools and parents need reliable financial support. The Furaha and Cairo Bank solution provides a timely and practical bridge, she said.
The partnership is part of a broader plan by both institutions to roll out purpose-led loan products across different segments to help families grow their incomes and access essential services
