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 Ghana's private education sector. 

The strategic engagement forms part of FirstBank Ghana's SME Connect initiative, through which the bank delivers customised financial solutions to businesses across key sectors.

It reaffirms the bank’s commitment to providing tailored financial solutions that support the sustainable growth of private schools.

The engagement brought together private school proprietors and administrators to discuss the challenges facing the sector and explore practical solutions that improve access to finance, strengthen school operations and enhance long-term sustainability. 

Platform

School proprietors used the platform to highlight key challenges affecting their operations, including access to affordable financing, cash flow constraints, infrastructure development and student transportation.

They also shared their expectations of financial institutions in supporting the growth of private education.

Addressing needs

Speaking on behalf of the GNUPS, the Eastern Regional Chairman, Francis Banzie, commended FirstBank Ghana for developing solutions that could directly address the needs of private schools.

He said the bank had demonstrated knowledge about the realities facing private schools and its willingness to provide the needed support in resolving them.

"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," Mr Banzie said.

You first

The acting Head of Retail Banking at FirstBank Ghana, Enoch Adams, said the bank was committed to providing solutions that would ensure that private schools thrive, given their contribution to the provision of quality education in the country.

He said through its integrated education offering, FirstBank Ghana sought to position itself as a trusted partner to Ghana's private education sector by providing innovative financing, technology-driven payment solutions and youth development initiatives that help schools grow, improve educational delivery and contribute to Ghana's long-term socio-economic development in line with its promise of putting You First.

"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 (JIP), 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," Mr Adams stated.

FirstBank Ghana’s Head of Retail Banking further explained that FirstEdu offered flexible financing aligned with school fee collection cycles, enabling schools to renovate and expand facilities, acquire school buses, invest in ICT infrastructure, procure teaching resources and finance other development projects without disrupting cash flow.

He also said that complementing the financing solution were FirstBank's digital collection and payment platforms, which supported seamless school fee collection, dedicated school accounts, payroll management, Point-of-Sale (POS) 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,”  Mr Adams stated.