Stanbic bank Ghana has moved to enhance quality education in schools across the country. The bank has introduced a new product aimed at assisting managers of public schools acquire loans without much difficulties.
Public Sector Education Customer Value Proposition (CVP) allows parents and students to pay fees through mobile money.
Speaking to Starr Business after the launch of the product, Head of Personal and Business Banking, Nana Dwemoh Benneh said private schools can also benefit from the package. According to him, some universities have already been rolled onto the scheme.
“In some of the regions, we actually are working with even some of the universities and in time we hope to bring onboard some of the second cycle schools and basic schools as well.”
Mr. Benneh explained the products will not only benefit students and parents in payment of fees but will also assist teachers and institutions with loans aimed at quality education delivery.
“We are partnering with the schools to help them with their financing of the schools as a business, and also to work with the teachers to see what we can do to finance them personally in their personal fiancés as well.”
The new product according to management, will ensure automated reconciliation of school fee payment with Stanbic bank account and help eliminate forgeries because schools, students, and parents are verified
