Furaha Finserve Uganda Limited and Cairo Bank Uganda Limited have reaffirmed and expanded their strategic partnership aimed at improving access to education financing across Uganda. This follows a successful Education Financing Summit held at the Four Points by Sheraton Hotel in Kampala.
The summit brought together school directors, proprietors, and head teachers from across Kampala District to explore innovative financial solutions designed to strengthen private school operations, improve revenue predictability, and build financially resilient institutions.
The engagement comes at a critical time for Uganda’s private education sector, which continues to face a persistent gap between projected and actual school fees collections each term. This challenge—largely driven by limited access to timely and affordable credit for families—has led to constrained school budgets, deferred investments, and disruptions in learning as students are sent home over unpaid fees.
Speaking at the summit, Denis Musinguzi, Chief Executive Officer of Furaha Finserve Uganda, emphasized the impact of the partnership in bridging this financing gap.
“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 more than 5,000 schools, out of a network of approximately 15,000 institutions,” he said.
Musinguzi highlighted Furaha’s fully digital platform, which allows parents to access school fees loans instantly via mobile devices.
“Within less than five minutes, school fees are disbursed directly to the school’s bank account. This ensures transparency, eliminates misuse of funds, and gives schools confidence that financing accessed by parents directly supports a child’s education,” he added.
He noted that many schools currently collect as little as 30% of expected fees at the beginning of term—placing pressure on operations and, in some cases, forcing schools to send learners home.
“Our mission is to eliminate these disruptions by ensuring that every child has continuous access to education through timely financing solutions,” Musinguzi said.
Justus Aribariho, co-founder of Furaha, cited a recent study indicating that only 30% of students are able to pay school fees on the first day of term. He noted that this limits schools’ ability to plan effectively due to insufficient resources.
“We designed a technology platform where parents can apply for school fees loans. We ensure that the money goes directly to the school so that it is not misused,” Aribariho said.
“For schools, this means predictable fee collection and better operational planning.”
He added that more than 5,000 schools across the country have benefited from these loans, while over 31,000 children—35% of them girls—have remained in school as a result.
Sylvia Jagwe Owachi, Acting Managing Director of Cairo Bank Uganda, reaffirmed the bank’s commitment to supporting Uganda’s education ecosystem through tailored financial solutions.
“At Cairo Bank, we recognize education as a cornerstone of national development. Through our Edu Bridge loan portfolio, we provide a comprehensive range of financing solutions—from working capital and infrastructure development to supplier and staff financing—designed to meet the diverse needs of schools,” she said.
She added that the partnership with Furaha enables the bank to extend digital school fees loans directly to parents, with funds disbursed straight to schools to ensure accountability and purpose-driven lending.
“Our goal is to support at least one million students to stay in school. 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 noted.
According to bank officials, Cairo Bank also offers medium- to long-term investment financing of up to five years—and in exceptional cases up to eight years—to support infrastructure expansion, including classrooms, laboratories, sports facilities, and technology investments aligned with Uganda’s competence-based curriculum.
George Mutekanga, 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—who play a major role in delivering quality education—are adequately supported to meet these requirements,” he said.
He emphasized the need for increased visibility and outreach, encouraging financial institutions to leverage existing education sector structures and regional networks to scale awareness and uptake of financing solutions nationwide.
Hajjat Zauja Ndifuna, Executive Secretary and Director of Mbogo Schools, praised the partnership for addressing real challenges faced by parents and schools.
“This financing model comes at a critical time. 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.
During the event, the “Musomo Gw’Obulamu” campaign was launched. Through this initiative, Furaha, in collaboration with Cairo Bank and participating schools, will support learners to remain in school.
As part of the campaign, Furaha will sponsor at least one child per participating school with education financing support of up to Shs1 million.