School support

Stanbic Bank Uganda has earmarked UGX60 billion booster financing to be acquired by the schools to be able to reopen after two years of closure. Under the discounted booster finance, schools are able to borrow up to UGX500M in collateral-free (unsecured) loans to prepare their institutions for reopening. Parents can also access up to UGX250million in unsecured loans processed digitally and dispersed within five minutes at zero processing fee. Stanbic Bank further revealed that its decision to waive all 2021 unpaid accumulated interest on loans to privately owned schools is a proactive initiative based on the understanding that schools have…