Ecobank Zambia Launches EduBanking to Transform School Finance
Ecobank Zambia has launched EduBanking, a sector-specific financial ecosystem designed to improve education financing, transparency, and service delivery across Zambia’s education system.
The launch, held at the InterContinental Hotel in Lusaka under the theme “Innovating Education Finance for Sustainable Growth”, brought together senior government officials, education stakeholders, school administrators, strategic partners, and members of the media.
Speaking on behalf of the Minister of Education, Mr Douglas Syakalima, the Permanent Secretary for Educational Services, Mr Kelvin Mambwe, commended Ecobank Zambia for introducing a solution that addresses long-standing challenges in school finance management.
“The EduBanking payment solution will significantly improve transparency, reduce revenue leakages, minimise fraud risks, and eliminate delays in accounts reconciliation,” Mr Mambwe said, describing the initiative as a critical step towards strengthening accountability and efficiency in the education sector.
He added that the platform will benefit parents and guardians by enabling seamless school fee payments through mobile phones and digital banking channels, while allowing schools to track transactions in real time, thereby enhancing financial governance and trust.
Ecobank Zambia Managing Director, Ms L. Aina Wright Moore, in remarks read on her behalf by Mr Darlington Chiluba, Head of Public Sector Banking under Corporate Banking, described EduBanking as more than a conventional banking product.
“Today, we are launching more than a product. We are launching a vision that places financial innovation, inclusion, and empowerment at the centre of Zambia’s education ecosystem,” Ms Moore said.
She explained that EduBanking is an integrated platform designed to support all education stakeholders, offering cashless school fee payments via USSD, internet banking, and the Ecobank Mobile App, alongside financing for school expansion, infrastructure development, and green energy solutions.
The platform also includes tailored financial support for teachers and parents, learner-focused opportunities such as scholarships and internships, and supplier financing to strengthen the education value chain.
“EduBanking is not just about financial solutions; it is about empowering every school, every teacher, every learner, and every family across Zambia,” Ms Moore said, reaffirming the bank’s long-term commitment to the sector.
Poplar School Director, Mr Chola Chabala, an early beneficiary of the EduBanking financing facility, encouraged parents and guardians to fully utilise the platform, noting that its value and convenience are best realised through active use.
Government officials noted that EduBanking aligns with Zambia’s national priorities on digital transformation, financial inclusion, and improved public service delivery. They added that such initiatives are essential for strengthening public confidence in education finance management and supporting sustainable development within the sector.
The launch positions Ecobank Zambia as a leading innovator in sector-specific banking solutions, reinforcing its role in advancing sustainable education financing and contributing to national development goals.
