Unveiling the DTB-Furaha School Fees Loan: A Digital Revolution in Education Finance
In a groundbreaking move, Diamond Trust Bank (DTB) Uganda and Furaha Finserve Uganda Limited have joined forces to tackle a pressing issue affecting families across the nation: the burden of school fees. Introducing the DTB-Furaha School Fees Loan, a fully digital financing solution designed to empower parents and ensure their children's educational journey remains uninterrupted.
A Digital Lifeline for Parents
The DTB-Furaha School Fees Loan is a game-changer, offering parents a seamless and affordable way to access school fees. Through the Furaha App or a simple phone call, parents can secure instant loans, eliminating the need for upfront lump-sum payments that often strain family finances. This innovative approach ensures children can stay in school and pursue their educational dreams.
Addressing a Critical Challenge
This initiative comes at a pivotal moment. According to the Ministry of Education and Sports (MoES), only 10 out of every 100 children who started primary school in 2012 managed to sit for their S6 examinations in 2024, with school fees being a significant barrier to continued learning. By providing a digital solution, DTB and Furaha aim to bridge this gap and empower more children to succeed.
A Purpose-Driven Partnership
Godfrey Sebaana, CEO of Diamond Trust Bank Uganda, emphasized the bank's commitment to community welfare, stating, 'Our partnership with Furaha Finserve Uganda Limited is built on the clear goal of keeping children in school. The DTB-Furaha School Fees Loan is a digital solution designed to alleviate the financial pressure parents face each term.'
The loan application process is straightforward and secure. Parents can apply through the Furaha App or by dialing 16580#. Registration requires only a National ID, making it accessible to a wide range of families. Once logged in, parents can input their child's student number, choose a suitable payment plan, and have the loan disbursed directly to the school.
A Vision for Uganda's Future
Sebaana further highlighted DTB's long-term vision: 'Our goal is to support over one million children in staying in school over the next five years. This initiative is a testament to responsible finance and a direct investment in Uganda's future.'
The partnership's impact extends beyond school fees. In a second phase, it will introduce financing for electric motor vehicles in Kampala and other productive assets like clean cooking gas, contributing to Uganda's transition towards a cleaner and more sustainable future.
A Call to Action
Dennis Musinguzi, CEO of Furaha Finserve Uganda Limited, praised the partnership's purpose-driven nature, stating, 'Our platform was built to solve real challenges, and school fees remain a significant pressure on Ugandan families. Working with DTB allows us to scale this solution and ensure more children stay in school without interruption.'
DTB encourages parents, schools, and education stakeholders to embrace this digital tool. With over 20,000 schools across Uganda, the potential for nationwide impact is immense. The DTB-Furaha School Fees Loan is now available to all eligible parents, marking a significant step towards a brighter future for Uganda's children.
