KAMPALA: Stanbic Bank Uganda has launched a new Dollar school fees payment
function on Flexipay where parents can pay school fees in Dollars, which makes it much
easier for parents to pay tuition fees to international schools.
The schools can now receive fees directly in United States dollars. This reduces the
transaction costs and the inconvenience of carrying out physical currency conversions.
The solution was officially unveiled during the second edition of the Stanbic International
Schools Breakfast Meeting held at Four Points Hotel in Kampala under the
theme ‘Partnering for Growth’.
Tunde Thorpe, the Executive Head Business Commercial Banking (BCB) at Stanbic
said the innovative solution was born out of direct feedback they received from
stakeholders during last year’s breakfast meeting.
“We believe that meaningful investment in the education sector is not only strategic, but
essential for national development. With this Mobile Dollar Account, parents in and
outside the country can conveniently send and pay school fees using our FlexiPay app,”
he said adding that the initiative aligns with Stanbic broader purpose: ‘Uganda is our
home. We drive her growth’.
He added that while the government continues to invest in the education sector, it is
clear that the private sector also has a vital role to play in creating opportunities for our
youth to receive quality education.
“In today’s interconnected world that is highly competitive and fast-paced, we can no
longer limit ourselves to a solely local curriculum. For Uganda to make a meaningful
impact on the global talent landscape, it is essential that our children receive a strong
foundational education, such as the international curricula offered by institutions like
yours. This strategic approach will position Uganda as a feeder for global talent from an
early stage, opening up endless opportunities for our nation.” Tunde said.
For several years now, international schools in Uganda have faced challenges
collecting school fees in foreign currencies, often incurring losses due to unpredictable
Press Release
exchange rates and conversion fees. Stanbic’s new digital offering aims to
change all that.
Harriet Senkali, the acting Commissioner for Private Schools at the Ministry of
Education and Sports, welcomed the development. She said it strengthens the
competitiveness of Uganda’s international schools on the global stage.
“Uganda currently boasts 79 international schools offering various international
curricula. Therefore, supporting these institutions with credible financial solutions is
critical. Many schools struggle and close due to operational challenges that can be
resolved through partnerships like this,” she said.
Albert Yiga, the Stanbic Bank Manager for the Education Sector described education as
the ‘heartbeat of the economy’, describing it as the breeding ground for future leaders.
However, he highlighted that the bank’s support to the sector goes beyond the Mobile
Dollar Account.
“From infrastructure loans to vehicle and asset financing, insurance solutions, and our
Flexi Loan of up to UGX 500 million, we are committed to empowering schools, parents,
and the broader education ecosystem,” Yiga said.
