FINCA and Jackfruit Finance Scale Education Financing Model in Tanzania and Uganda

NAIROBI, Kenya   — FINCA 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.”