FirstBank Ghana has held a strategic engagement with members of the Ghana National Union of Private Schools (GNUPS) as part of efforts to strengthen its partnership with the country's private education sector.
The engagement forms part of FirstBank Ghana's SME Connect initiative, through which the bank delivers customised financial solutions to businesses across key sectors, and was aimed at reaffirming its commitment to supporting the sustainable growth of private schools.
It brought together school proprietors and administrators to discuss the challenges facing the sector and explore practical solutions to improve access to finance, strengthen school operations and boost long term sustainability. Proprietors used the platform to raise concerns including affordable financing, cash flow constraints, infrastructure development and student transportation, while also outlining what they expect from financial institutions supporting the growth of private education.
Speaking on behalf of GNUPS, the union's Eastern Regional Chairman, Francis Banzie, commended FirstBank Ghana for developing solutions that could directly address the needs of private schools, saying the bank had shown a clear understanding of the realities they face.
"FirstBank has demonstrated that it understands the realities facing private schools. Access to affordable financing has remained a major challenge, especially for schools seeking to invest in safer buses and improve infrastructure. Through FirstEdu, schools can now access financing to acquire modern buses and essential facilities without the heavy collateral requirements that have often limited growth. This partnership will improve student safety, strengthen school operations and contribute significantly to quality education across Ghana," Banzie said.
The acting Head of Retail Banking at FirstBank Ghana, Enoch Adams, said the bank is committed to providing solutions that help private schools thrive, given their contribution to quality education in the country. He said the bank's integrated education offering is designed to position it as a trusted partner to Ghana's private education sector, through financing, technology driven payment solutions and youth development initiatives that support school growth and educational delivery.
"FirstBank is committed to supporting schools with solutions that go beyond traditional banking. Education remains one of the strongest pillars of national development, and schools deserve financial partners that understand their unique needs. Our three in one solution combines flexible financing through FirstEdu, efficient collection and payment platforms, and our junior internship programme, which equips students with practical workplace experience and financial literacy. Together, these solutions help schools operate more efficiently while preparing the next generation for success," Adams said.
He explained that FirstEdu offers flexible financing aligned with school fee collection cycles, enabling schools to renovate and expand facilities, acquire buses, invest in ICT infrastructure, procure teaching resources and finance other projects without disrupting cash flow. He said this is complemented by FirstBank's digital collection and payment platforms, which support school fee collection, dedicated school accounts, payroll management, point of sale services and secure digital payment channels.
"These solutions improve transparency, reduce cash handling and simplify financial administration for schools, and that is the convenience and efficiency every business and school needs," Adams said.
