If you’ve ever had to tell your child they can’t return to school because of fees, you know the pain. It’s a reality many Ugandan parents face every term—scrambling to raise money, taking small contributions from friends, or standing in long queues with no guarantee of help.
We built Furaha to change that.
In recent years, most banks across Africa have developed and implemented a mobile-first strategy by digitising their services. This was to offer speed, convenience and scale access to their customers. As a result, customers were able to open bank accounts, check balances, pay bills and transfer funds without going to a branch. Yustus, with experience as a former banker at Standard Chartered, led this revolution, paving the way for a digital-first retail bank. During this period, over two million customers were onboarded. As a journey, it was rewarding and proved that with the right technology and design, people would embrace digital finance if it met their needs and fit into their lives.
However, as account openings and transaction volumes grew, we noticed one peculiar problem. While millions now had access to digital banking services, access to credit remained out of reach for many who fell outside traditional risk models. For these digitally active individuals, the experience of trying to secure a loan from a traditional financial institution was often slow, intrusive and involved a tedious process where documentation had to be provided. This disconnect is what inspired us to start Furaha.
By recognising that the same principles of speed, convenience, and accessibility driving Africa’s digital banking revolution could also be applied to credit, we aimed to completely reimagine how people access credit, beginning with one of the most immediate needs for many families – school fees. But we didn’t want to digitise yet another loan product. While we are entrepreneurs, we are also parents, and we have always seen friends, colleagues and even relatives scrambling and stressing out on ways to keep their children in school for the whole term, three times a year – consistently.
We focused on building a platform that connects all the key players in the financial world. This platform would help us support parents by instantly checking their eligibility for school fee loans. Once approved, the loan goes directly to the child’s school, allowing parents to pay school fees without delay.
We built an ecosystem that includes services parents already know and use. This means partnering with banks, mobile money providers like MTN (through their mobile wallet), and school fee payment platforms such as SchoolPay and SurePay. We also work with credit reference bureaus. By doing this, we meet parents where they already are, offering a dignified and purposeful solution directly through familiar channels.
Since we started this journey over a year ago, Furaha has supported more than 3,000 parents to keep their children in school consistently, with 53%+ being women. We don’t see these as simple figures but stories of resilience and advancement that are driving inclusion and equity.
If digital banking showed us how to deliver services with speed, convenience and access, then digital credit can show us how to deliver solutions with meaning. When that happens, financial inclusion will become a lever for stability and dignity as opposed to a buzzword.
If you’re a parent, don’t wait until the first day of school to start stressing. Download the Furaha app today, check your eligibility in minutes, and get school fees paid directly to your child’s school.
If you’re a school, join the 1,000+ schools already working with Furaha. Help your parents access instant, affordable education loans—and keep your classrooms full. Partner with us: furahafinancial.com/contact-us
Furaha Finserve Uganda Limited is a financial technology business which acts as a software-based intermediary platform. The company does not provide loans or credit directly, and does not operate a payment system, act as a payment service provider or issue a payment instrument.
