Furaha partners with School Pay to ease education financing
Financial technology platform Furaha has entered into partnership with Service Cops, the owners of School Pay to help revolutionalise education financing.
Through this partnership, parents will be able to acquire loans to finance education and pay later.
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“You know some studies have shown that almost half of children drop off between secondary school and higher education and the main factor behind this is lack of finances. The ability to have finances towards education is a key factor. Therefore, having finances plays a key role in keeping learners in school. This is what we are here to ensure,” said Ian Fernandez, the founder of Furaha.
He said by partnering with Service Cops’ School Pay, they are making it easy for Uganda financial technology platform
The CEO of School Pay, Charity Atukwasa said they are happy to have as many partners as possible to help revolutionalise digital payments.
“If you have been to school in Uganda, you remember the lines swelled as parents struggled to pay school fees and it is one of the things we are trying to solve by digitizing payments. You can’t do everything by yourself. When you work with different people you bring much more value. We are glad to have changed the way school fees payment is done and by getting new partners like Furaha adds more value to this service we are offering,” Atukwasa said.
Dennis Musinguzi, the CEO of Furaha said unlike others, they provide targeted finances.
Osbert Muganga, the general manager School Pay said this partnership will benefit all players across the education sector.
“We are not giving cash to the parent. We know there are those taking cash loans and use the money for different things. The money goes directly to the school in the names of the child. This is done under one minute and can be done any time of the day. This provides convenience to the customer but also ensures it goes for what it is meant,” Muganga said.
