Parents with children in international schools across Uganda can now pay school fees directly in United States dollars following the launch of a new feature on Stanbic Bank’s FlexiPay platform.
The innovation, officially unveiled at the second Stanbic International Schools Breakfast Meeting held at Four Points Hotel in Kampala, allows international schools to receive tuition fees in dollars through the bank’s digital payment platform. This development is expected to reduce currency conversion losses and ease the financial transaction process for both parents and schools.
Tunde Thorpe, Executive Head of Business and Commercial Banking at Stanbic, said the initiative was a direct response to feedback from education stakeholders.
“With this Mobile Dollar Account, parents in and outside the country can conveniently send and pay school fees using our FlexiPay app,” Thorpe stated. “This aligns with our broader purpose: ‘Uganda is our home, we drive her growth’.”
Thorpe emphasized the private sector’s critical role in supporting Uganda’s education system, particularly in preparing students for global competitiveness through international curricula.
The move comes amid long-standing concerns from international schools over foreign currency exchange rate losses and the logistical challenges of handling dollar transactions. The new feature is expected to address these challenges, offering a seamless and secure way to process school fees.
Harriet Senkali, acting Commissioner for Private Schools at the Ministry of Education and Sports, welcomed the move, saying it strengthens the global competitiveness of Uganda’s 79 international schools.
“Many schools struggle and close due to operational challenges that can be resolved through partnerships like this,” Senkali said.
Stanbic’s Education Sector Manager, Albert Yiga, described education as the “heartbeat of the economy” and affirmed the bank’s continued support for the sector beyond digital payments.
“From infrastructure loans to vehicle and asset financing, insurance solutions, and our Flexi Loan of up to Shs 500 million, we are committed to empowering schools, parents, and the broader education ecosystem,” Yiga said.
The new FlexiPay Dollar Payment feature is now live, and Stanbic Bank says it is already engaging more schools to integrate the system into their operations.
