Service Cops Limited and Furaha Finserve Uganda Limited have partnered to revolutionize education financing in Uganda.
The collaboration, which leverages Furaha Finserve’s expertise in technology-built purpose-based financing and Service Cops Limited’s School Pay’s innovation, aims to enhance accessibility to school fees financing and promote financial literacy among parents and students.
Speaking at the launch of this partnership in Kampala on Thursday, Dennis Musinguzi, Furaha’s CEO, stated that the collaboration aligns with their vision of building Africa’s leading purpose-based financing platform.
“By leveraging our cutting-edge technology and School Pay’s commitment to education access, we are creating a solution that simplifies school fee payments and restores the dignity of parents and children across the country,” said Musinguzi
According to Osbert Muganga, General Manager of SchoolPay, the partnership will go along way to address the challenges posed by delayed school fees payments.
“We have seen sad stories in the news where students are denied chance to sit for their final exams due to unpaid fees. Imagine the pain of being sent home after four years of hard work, only to be denied the opportunity to take your final exams over a relatively small amount of money? The emotional impact on that child can be lasting,” said Muganga.
The partnership offers affordable financing with low interest rates, a simplified loan application process, real-time direct-to-school payments, and flexible repayments of up to 90 days.
The service is available to the public through the Google and Apple App Stores. Customers can sign up using only their National Identity Card by going to http://bit.ly/furaha-app on their smartphones.