By Shakirah Kukundakwe
Pride Bank has launched a specialised financing product aimed at easing the cash flow challenges faced by private schools, other educational institutions and religious organisations across Uganda.
Dubbed the Pride Bridge Finance Facility, the product provides timely working capital to help institutions maintain uninterrupted operations while awaiting school fee collections and other regular income.
The bank said the facility addresses a common challenge faced by schools, which must continue meeting expenses such as staff salaries, utility bills, maintenance and procurement of teaching materials throughout the school term even when fee collections are delayed.
Eligible educational institutions can access financing ranging from Shs5 million to Shs1 billion, with repayment periods of up to 60 months structured around school fee collection cycles.
Religious institutions with accounts at Pride Bank are also eligible, with loan amounts determined by their offertory collections and repayment periods of up to 12 months.
The facility can be used to finance staff salaries, school maintenance, utility bills, teaching and learning materials, equipment and furniture, as well as the construction and expansion of school infrastructure.
Speaking at the launch, Pride Bank Manager for Agribusiness and Green Finance, Joseph Lwanga Mugerwa Kigundu, said the facility reflects the bank's commitment to developing sector-specific financial solutions.
"Education is one of the most important drivers of national development. Through the Pride Bridge Finance Facility, we are helping schools manage cash flow more effectively so they can focus on delivering quality education rather than worrying about short-term financing challenges. Our goal is to become a long-term financial partner to Uganda's education sector," Kigundu said.
He added that the facility is integrated with SchoolPay, Pride Bank's digital school fees collection platform, enabling schools to receive secure digital payments, improve reconciliation, strengthen accountability and build reliable cash flow records that support financial planning and credit assessment.
The facility is complemented by other banking products, including school fees loans for parents and guardians, bulk salary processing services, salary loans for teaching and non-teaching staff, and savings accounts for minors aimed at promoting financial literacy.
Pride Bank's Chief Manager for Retail and SME Banking, Fetaa (include full name and title), said schools require more than access to credit to thrive.
"Schools require more than access to credit. They require financial systems that improve efficiency, strengthen governance and support long-term growth. By combining working capital financing with digital fee collection and value-added banking solutions, we are helping schools build stronger financial foundations while creating greater convenience for parents, teachers and learners."
To qualify for the facility, schools must maintain an institutional account with Pride Bank, demonstrate consistent school fee collections, and provide the required registration and governance documentation. The bank said loan approvals will primarily be based on an institution's fee collection history and cash flow performance.
The launch reinforces Pride Bank's strategy of developing customer-centred financial solutions tailored to key sectors of Uganda's economy, including education.
