Stanbic Bank Uganda has launched a new Dollar school fees payment feature on Flexipay, enabling parents to conveniently pay school fees in U.S. dollars. This innovation makes it easier for parents to pay tuition fees to international schools, which can now receive fees directly in dollars. The solution reduces transaction costs and eliminates the inconvenience of physical currency conversions.

The feature 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 of Business Commercial Banking (BCB) at Stanbic, said the innovative solution was born out of direct feedback 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’s broader purpose: ‘Uganda is our home. We drive her growth.’

Thorpe further noted that while the government continues to invest in the education sector, the private sector also plays a vital role in creating opportunities for youth to access quality education.

“In today’s interconnected, highly competitive, and fast-paced world, 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,” Thorpe said.

For several years, international schools in Uganda have faced challenges collecting school fees in foreign currencies, often incurring losses due to unpredictable exchange rates and conversion fees. Stanbic’s new digital offering aims to change this.

Harriet Senkali, the Acting Commissioner for Private Schools at the Ministry of Education and Sports, welcomed the development, noting that it strengthens the competitiveness of Uganda’s international schools on the global stage.

“Uganda currently boasts 79 international schools offering various international curricula. Supporting these institutions with credible financial solutions is critical. Many schools struggle and even 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” and the breeding ground for future leaders. He also highlighted that the bank’s support for the sector extends 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.