Fincom Technologies Limited has signed a Memorandum of Understanding (MoU) with Kawempe Muslim Twale to accelerate digital payment systems in Muslim-founded and Muslim-managed schools in Kawempe.
Digital payment systems in Uganda are rapidly evolving, driven by high mobile money adoption (MTN MoMo, Airtel Money) and increasing fintech innovation. Key solutions include mobile wallets, card payments (Visa/Mastercard), and digital banking apps with a growing shift towards QR-code payments and contactless technology to reduce the 66% cash-based transaction rate.
Charity Atukwatsa Mutagamba, the Chief Executive Officer of Fincom Technologies Limited, said the partnership aims to promote accountability and transparency in schools through the company’s School Pay platform.“We are working with Kawempe Twale to accelerate the digitisation of Muslim schools in this Twale of Kawempe, and this is something that we hope to replicate in other areas,” Mutagamba said.
She explained that the School Pay system enables parents to pay school fees remotely without physically visiting banks or schools.
“With our School Pay system, we have been able to promote accountability and transparency in schools. Parents do not have to leave their workplaces or homes to make payments. It brings convenience,” she said.
Mutagamba added that the platform has introduced a pocket money solution to minimise risks associated with students carrying cash.
“A parent does not have to send money through a matron who might eat half of that money and give the child half. Instead, the money is sent directly to the child’s card, and the child can use it at the canteen. We are promoting cashlessness and reducing risks like theft in schools,” she noted.
She further revealed that schools that consistently use the platform can access loans directly through the system.
“Schools are able to log into our system, apply for a loan and get it through the School Pay platform. We have partnered with several financial institutions to make this possible,” she said, adding that the company currently serves over 12,000 schools and plans to expand further through such partnerships.
Sheikh Muzamiru Mugulusi, the Kawempe Mbogo Mosque Sheikh, thanked Fincom for the partnership, saying it would strengthen the Twale’s work.
“Such MoUs, Allah implores us to fulfil, and we promise to fulfil whatever we have agreed upon. We believe our Twale shall elevate. We are doing voluntary work, and with your support, our work will go on smoothly,” Sheikh Mugulusi said.
He added that beyond School Pay, Fincom’s support in other sectors such as health would benefit the Muslim community.
Erias Luyimbaazi Nalukoola, Chairperson of the Planning Committee of Kawempe Muslim Twale also the area MP, described the MoU as timely and beneficial to both parties.
“Fincom Technologies provides services including, but not limited to, School Pay. It allows you to pay school fees from your sitting room. The money goes directly to the bank or to where the school wants it deposited,” Nalukoola said.
He explained that under the agreement, Kawempe Muslim Twale will promote Fincom’s services within its jurisdiction, while Fincom will support Twale activities such as workshops, community education and health initiatives.
“We believe this collaboration will yield fruits for the betterment of the Kawempe Muslim community. It will ease school fees payment and reduce inconveniences like lining up in banks,” he added.
Sheikh Yasir Kkulumba, Director of Religious Affairs at the Uganda Muslim Supreme Council, welcomed the digital platform, saying it would help eliminate long-standing challenges such as queues during fee payments.
He noted that the Supreme Council supports innovation and has also introduced a digital platform that allows Muslims to pay Zakat using mobile phones.
Sheikh Kkulumba urged Fincom to expand its support beyond school fees and pocket money solutions.
“Do not stop at easing school fees payment and pocket money access. We also request you to consider offering education scholarships for Imams,” he said.