Stanbic Bank Uganda created a new way for parents to pay school fees using American dollars. The Flexipay app lets families send money directly to international schools without changing currencies first. Parents can avoid extra costs and complicated money exchanges that eat into their budgets. Schools receive payments straight into dollar accounts rather than dealing with conversion headaches. The bank announced the service at a breakfast meeting with international school leaders in Kampala.
Tunde While, a Stanbic executive, said parents asked for easier payment methods during last year's meeting. The bank built the mobile dollar account system based on feedback from families and schools. Uganda operates 79 international schools that teach foreign curricula to local students. Many institutions struggled with collecting fees because exchange rates kept changing and hurt their finances. The new system eliminates those problems for both parents and schools.
Education officials praised the banking solution for helping schools compete globally. Private institutions often close down because they cannot handle money problems effectively. The ministry wants more partnerships between banks and schools to solve operational challenges. Stanbic also offers building loans and vehicle financing to educational institutions across the country. The bank sees education as vital for economic growth and future leadership development.
Tunde While, a Stanbic executive, said parents asked for easier payment methods during last year's meeting. The bank built the mobile dollar account system based on feedback from families and schools. Uganda operates 79 international schools that teach foreign curricula to local students. Many institutions struggled with collecting fees because exchange rates kept changing and hurt their finances. The new system eliminates those problems for both parents and schools.
Education officials praised the banking solution for helping schools compete globally. Private institutions often close down because they cannot handle money problems effectively. The ministry wants more partnerships between banks and schools to solve operational challenges. Stanbic also offers building loans and vehicle financing to educational institutions across the country. The bank sees education as vital for economic growth and future leadership development.
