Ecobank Zambia and PRISCA Partner to Revolutionize Education Financing
Ecobank Zambia has announced a major push to transform education financing in the country through its innovative EduBanking ecosystem and the Ellevate programme, unveiled during a high-level engagement with the Proprietors and Administrators of Private Schools and Colleges Association (PRISCA).
The event, which brought together more than 150 school proprietors and administrators in Lusaka, highlighted the bank’s commitment to strengthening education systems, empowering teachers, supporting families, and enhancing community development.
Delivering the keynote address, Ecobank Zambia Managing Director Ms Aina L. Moore described the initiative as a defining moment for education financing in Zambia.
“Strong schools build strong nations. You are the architects of the future, shaping the young minds who will one day lead Zambia, Africa, and the world,” she said.
She explained that the EduBanking ecosystem is designed as a comprehensive financial solution for the entire education value chain, rather than a conventional banking product. Since its launch in December, six schools have already adopted the platform.
Ms Moore noted that EduBanking streamlines fee collection through secure and transparent systems, reducing delays, leakages, and reconciliation challenges.
“Imagine a school where fee collections are seamless, secure, and fully transparent. That is the promise of EduBanking,” she said.
The platform also provides targeted financing for school expansion, classroom construction, digital transformation, and green energy solutions such as solar installations and electric mobility. Teachers can access study loans, personal credit, and salary support, while parents benefit from flexible payment plans and education loans.
Students are supported through scholarships, bursaries, internships, and career guidance, with suppliers and vendors also able to access invoice discounting and supply chain financing.
“EduBanking is our promise to make education not only accessible but sustainable, innovative, and a true driver of national progress,” Ms Moore added.
She also underscored the importance of women in Zambia’s economy, noting that over 60 per cent of the country’s 1.6 million SMEs are women-led, many of which operate within the education sector.
In this regard, she unveiled the Ellevate by Ecobank programme, a flagship initiative aimed at empowering women-led businesses through tailored financial solutions, mentorship, training, and market access.
“Through Ellevate, we are not just supporting businesses; we are investing in the women who are building Zambia’s tomorrow,” she said.
PRISCA Chairperson Mr George Ngwenya welcomed the initiative, describing it as a timely response to long-standing challenges faced by private education providers, including cash flow constraints, fee collection inefficiencies, and limited access to finance.
“This engagement is not just a product presentation, but a partnership conversation. EduBanking speaks directly to our operational needs and gives our members confidence to adopt modern financial solutions,” he said.
Ecobank reaffirmed its commitment to working closely with schools across the country, encouraging institutions to adopt EduBanking and Ellevate solutions to improve efficiency, expand capacity, and strengthen long-term sustainability.
The bank has invited all education institutions to engage with its branches nationwide to explore tailored solutions aimed at building stronger schools and a more resilient education sector.
“Today is not just another meeting; it is the start of a partnership that will shape the future of education in Zambia,” Ms Moore concluded.
