FirstBank Ghana Boosts Private Education with Customised Financial Support

FirstBank Ghana Boosts Private Education with Customised Financial Support

FirstBank Ghana has strengthened its partnership with Ghana's private education sector by exploring financial solutions to challenges confronting private schools. The bank recently engaged with members of the Ghana National Union of Private Schools (GNUPS) to discuss access to finance, cash-flow management, infrastructure development, student transportation, and other operational challenges affecting the sustainability of private educational institutions.

FirstBank Ghana's SME Connect Programme Offers Customised Financial Solutions

The initiative forms part of FirstBank Ghana's SME Connect programme, which provides customised financial solutions to businesses operating across key sectors. Ahead of the engagement, the Bank conducted a public awareness campaign through radio interviews and stakeholder engagements aimed at promoting sound financial management practices within the education sector. Private school proprietors highlighted access to affordable financing as one of the major constraints affecting their ability to expand and improve their operations.

FirstEdu Product Offers Flexible Financing for Private Schools

During the engagement, private school proprietors raised concerns about cash-flow challenges, infrastructure development, and the need to acquire safer and more reliable buses for transporting students. Speaking on behalf of the Ghana National Union of Private Schools, Eastern Regional Chairman Francis Banzie commended FirstBank Ghana for developing financial products targeted at the specific needs of private schools. "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," he said.

FirstBank Unveils Integrated School Solution with Flexible Financing and Digital Payment Platforms

In response to the concerns raised by school proprietors, FirstBank Ghana showcased an integrated three-in-one solution comprising flexible financing through FirstEdu, digital collection and payment platforms, and its Junior Internship Programme (JIP). Acting Head of Retail Banking at FirstBank Ghana, Enoch Adams, said the Bank was committed to supporting schools with solutions that extended beyond traditional banking services. "Education remains one of the strongest pillars of national development, and schools deserve financial partners that understand their unique needs," he said.

Junior Internship Programme Aims to Develop Students' Career Readiness

Beyond financial services, the Bank introduced its Junior Internship Programme, which provides students with practical workplace experience while developing their financial literacy, leadership skills, and career readiness. The programme is intended to help bridge the gap between classroom learning and the world of work by exposing young people to practical professional environments. Mr. Adams said the combination of financing, digital payment solutions, and youth development initiatives would enable schools to operate more efficiently while preparing students for future careers.

FirstBank Ghana said it would continue to work with stakeholders in the private education sector to provide innovative financial and non-financial solutions that support school growth, improve educational delivery, and contribute to Ghana's socio-economic development. With this partnership, FirstBank Ghana is taking a significant step towards improving access to education in Ghana, particularly for private schools.

Source: Joy Online