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Ecobank Zambia has partnered with the Private Schools and Colleges Association to provide tailored financial solutions aimed at improving operations and supporting growth in private education institutions.
The partnership, launched under the bank’s EduBanking and Ellevate platforms, will offer services including asset financing, cashless payment systems and vehicle financing to member schools.
Speaking at a breakfast meeting in Lusaka, Managing Director, Aina Moore, said the initiative marked the beginning of efforts to transform how education is financed and delivered.
Moore said the solutions would help schools improve efficiency by addressing challenges such as revenue leakages, fraud risks and delayed financial reconciliations.
She added that the bank’s cashless payment system would enable parents to pay school fees through mobile phones or online platforms, while schools monitor transactions in real time.
The bank will also provide financing for infrastructure expansion, including construction of classrooms, renovation of facilities, procurement of vehicles and investment in technology.
Moore said the initiative also included green financing options such as solar systems and water pumps to help schools mitigate the impact of power outages.
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She added that teachers would benefit from services such as study loans, personal loans, salary advances and access to professional development platforms.
For parents and guardians, the programme will offer school fee loans and financial support for back-to-school needs.
PRISCA Chairperson, George Ngwenya, said private schools faced operational and financial challenges that affected service delivery, including administrative burdens and compliance requirements.
Ngwenya said the partnership provided an opportunity to develop practical solutions to improve efficiency and sustainability across member institutions.
He noted that issues such as revenue leakages, infrastructure gaps and load shedding continued to disrupt learning and increase financial risk.
Ngwenya expressed optimism that continued collaboration with Ecobank would help strengthen private education delivery in Zambia.
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