FINCA (www.FINCA.org) and Jackfruit Finance are expanding their education finance collaboration across East Africa following a successful pilot in Uganda that validated demand for tailored financing among underserved schools. The partnership has now launched in Tanzania while entering its next phase in Uganda under a commercial framework designed to prove the long-term sustainability of the operating model before broader expansion.
The collaboration builds on the successful initial pilot in Uganda, through which 42 schools, collectively serving approximately 10,000 children, accessed 184.5 million Ugandan shillings ($49,700 USD) in financing to strengthen operations, retain teachers, and improve school facilities. The pilot demonstrated strong demand for specialized education finance among schools with limited access to formal credit. To date, approximately 91% of the disbursed principal has been repaid.
The partnership was developed through FINCA's Poverty Eradication Lab, which works with specialized partners to design and test financial solutions that address needs beyond traditional microcredit. By combining FINCA's expertise in product development and human-centered design, lending infrastructure, and local regulatory presence with Jackfruit's deep relationships in the education sector, the collaboration created a unique financing model tailored to the realities of low-fee private schools. Schools begin with working capital loans to support operations and teacher retention, with the opportunity to graduate to larger infrastructure loans that help expand classrooms, improve facilities, and increase student capacity.
“Access to capital remains one of the greatest obstacles for schools serving low-income populations across Africa,” said Jackfruit Finance CEO Robert Alhadeff. “By pairing Jackfruit’s education financing platform with FINCA’s reach and product innovation, we’re creating a model that gives schools the stability and resources they need to grow and deliver stronger learning outcomes.”
FINCA Uganda and Jackfruit have now moved to a revenue-sharing model designed to strengthen the program’s commercial sustainability as it enters its next phase of growth. Planned targets include reaching a total of 100 schools in Uganda, graduating eligible schools from working capital to infrastructure loans based on repayment history and assessed need, and launching a pilot targeting up to 70 schools in Tanzania.
“Innovation isn’t about creating more products; it’s about finding solutions that genuinely improve people’s lives and can be replicated at scale,” said Seth Spiro, Vice President and Chief Product Officer, FINCA. “Our partnership with Jackfruit has shown that education finance can strengthen schools, benefit students, and create a sustainable model that can reach many more communities.”
Distributed by APO Group on behalf of FINCA.
ABOUT FINCA:
FINCA is an international organization committed to creating pathways out of poverty through sustainable, scalable solutions rooted in the needs of the people it serves. With a presence in more than 45 countries, FINCA provides innovative tools that help individuals and communities build resilience, generate income, and invest in their children’s education. FINCA’s work is driven by the belief that all people should have the opportunity to leverage their wisdom, talent, and effort to determine their own destiny, and aims to directly serve and support 40 million people by 2028 with proven solutions that spark lasting impact. Learn more at www.FINCA.org.
ABOUT JACKFRUIT FINANCE:
Jackfruit Finance is a Nairobi-based education finance company providing technology-enabled capital and reward programs that expand access to quality education in Sub-Saharan Africa by offering affordable loans to private schools and related education providers. The company’s mission is to help schools build classrooms, improve facilities, and strengthen learning outcomes through accessible financing solutions tailored to the needs of low-fee and underserved educational institutions. Learn more at Jackfruit Finance (https://apo-opa.co/44ZcuyL)
