KAMPALA, Uganda— Absa Bank Uganda has partnered with Tata Uganda to provide financing for schools to acquire new and reliable buses, aiming to solve a persistent challenge in the education sector.
The partnership offers schools asset financing with zero arrangement fees, flexible five-year repayment plans, and zero interest for the first academic year. The program is designed to ease the financial strain on educational institutions, particularly those outside urban centers, and help them modernize their fleets.
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Moses Rutahigwa, Absa Bank Uganda’s director of retail and business banking, said reliable transport is crucial for ensuring students can get to school on time and consistently.
“By removing the cost barriers schools face in acquiring quality transport solutions, we are also safeguarding the wellbeing of our children and contributing to a better learning environment,” he said.
Many schools in Uganda have struggled to finance new bus purchases due to high upfront costs and limited financing options. This has led to institutions using outdated or unsafe vehicles, which can put students at risk.
Devdatta Chitale, Auto Head at Tata Uganda Limited, said the collaboration will ensure more schools have access to both the right products and the right financing.
“Our vision at Tata has always been to deliver durable, reliable, and cost-effective transport solutions,” Chitale said. “Partnering with Absa Bank Uganda… [ensures] students travel in safety and comfort every day.”
The official signing ceremony took place at Tata Uganda’s premises. Both companies affirmed their commitment to providing tailored solutions that support communities and meet the country’s evolving education needs.
