Sterling Bank’s Back-To-School Campaign may provide succor for many parents, guardian, teachers and proprietors of schools in Nigeria as they prepare for the new school year in September.
The primary target for the campaign are the primary and secondary schools (administrators, owners and teachers) while the secondary audience are all primary and secondary school-students and their parents.
Areas covered under the campaign include school financing, asset finance, textbook and educational materials finance for schools; school fees finance for parents; coding and robotics Summer Boot Camp for children, and household equipment finance and training for teachers, among others.
The Bank’s Group Head, Strategy & Finance, Mr. Shina Atilola in a statement, explained that the school fees financing solution was introduced to provide parents with instant financing for school fees and allow them put their kids in school while awaiting salaries and other receivables.
He explained that under the Bank’s Asset finance scheme, existing and new account holders will qualify for short-term financing against receivables while “Sterling Bank can finance acquisition of Buses, ICT Infrastructure, Interactive Boards and other items the school may wish to purchase in the Back-to-School season under the asset finance scheme”.
The chief strategist added that schools patronizing the bank can access finance for a 90-day tenor at good rates.
“This would be an incentive to school owners as surveys have shown that a large number of schools have challenges with payment of salaries and for renovation projects when school fees are not fully received. Existing and prospective schools can also enjoy free deployment of our Eduportal and Payment Gateway at no cost to the school. The solution, he noted, provides a platform to integrate the payment of school fees, levies and any other school-related payments. The platform also aids record-keeping, and make for seamless day-to-day management of operations in schools.
While the Bank offers schools a quick financing solution to purchase textbooks and learning materials from major publishers and bookshops like Learn Africa Plc, Doroena Books and other designated outlets for the school year, Atilola explained that schools that open salary accounts for their teachers this season will have their teachers qualify automatically for the bank’s Personal Financial Management and other training programmes (for both local and foreign courses).
Under the Household Equipment Finance, he explained that teachers with salary accounts would qualify for discounted acquisition of household items with flexible payment plans.
source:thenationonline
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