KAMPALA– Airtel Money Uganda, the country’s leading mobile money service provider, has announced a groundbreaking partnership with SchoolPay and Sanlam Investments to launch SchoolPay Savings, an innovative financial product designed to transform how Ugandan parents save for and pay school fees.
The new service addresses a critical challenge faced by millions of Ugandan families: the financial anxiety and scramble that comes with school fees payments every term. SchoolPay Savings offers parents a secure, flexible, and rewarding way to gradually set aside money for their children’s education while earning attractive returns on their savings.
The product is supported by the convenience of Airtel money and the security of regulated investment tools to promote financial inclusion in education. Parents can start saving from as little as UGX 5,000 at any time, with no fixed schedules or minimum balance requirements, while earning 8% annual interest calculated daily on their savings.
“For many Ugandan families, school fees payments creates sleepless nights of financial anxiety,” said Japheth Aritho, Managing Director of Airtel Mobile Commerce Uganda Limited. “SchoolPay Savings changes that story forever. Instead of panic when fees are due, parents can now with confidence incrementally grow their school fees savings reducing the burden, while the savings earn an interest.”
One of the most revolutionary features of SchoolPay Savings is the zero withdrawal charges when paying school fees directly from the savings wallet. This eliminates transaction costs that have traditionally been a barrier for parents accessing their own saved funds for education purposes.
The process is designed for simplicity and accessibility. Parents can access the service by;
- Dial *185#
- Select School Fees
- Select SchoolPay, and follow the prompts
The savings are securely invested through Sanlam’s regulated Unit Trust Scheme, managed by Sanlam Investments East Africa Limited and licensed by the Capital Markets Authority of Uganda.
Giles Aijukwe, CEO of Fincom Technologies, which operates the SchoolPay platform, emphasized the partnership’s vision: “At Fincom Technologies, our mission has always been to make school fees payments simple, secure, and stress-free. With SchoolPay Savings, we are taking that vision further, by empowering parents not just to pay, but to plan ahead and grow their savings. This partnership ensures that every shilling set aside for education works harder for the family and the future of our children.”
The partnership combines Airtel Money’s extensive mobile money network, SchoolPay’s established school fees payment platform, and Sanlam Investments’ expertise in fund management to create a comprehensive solution for educational financing in Uganda.
Key features of SchoolPay Savings include:
- Minimum savings of UGX 5,000 with maximum single transaction limit of UGX 5,000,000
- 8% annual interest calculated daily
- Instant withdrawals with full flexibility
- Zero charges when withdrawing to pay school fees
- Secure investment through regulated Unit Trust Scheme
- Simple USSD access through *185#
The product is exclusively available to parents who pay school fees through the SchoolPay platform, ensuring a seamless integration between saving and payment processes.
The SchoolPay Savings service is now live and accessible to all eligible parents across Uganda.
