FirstBank Ghana has reaffirmed its commitment to supporting the growth and transformation of Ghana’s private education sector through tailored financial solutions, following its engagement with members of the Ghana National Association of Private Schools (GNAPS) at the Association’s 30th Annual General Conference in Ho.
The event held under the theme, “Revolutionising Education, Transforming Ghana Through Innovation and Technology,” brought together school proprietors, administrators and key stakeholders to discuss opportunities and challenges shaping the future of private education in Ghana.
Representing FirstBank Ghana, Enoch Adams, Acting Head of Retail Banking, highlighted the Bank’s commitment to becoming a stronger financial partner to private schools through FirstEdu, a tailored solution designed to address the sector’s unique financial and operational needs.
“Managing a school today requires much more than delivering quality education. Proprietors must manage salaries, school fees, infrastructure, technology, transportation, working capital and expansion while maintaining high standards of service. FirstEdu is our response to these realities, providing schools with financing solutions that support their operations and growth,” Mr Adams said.
He explained that FirstEdu provides financing for working capital and operational expenses, renovations and expansion, school vehicles, computer hardware and IT infrastructure, with flexible financing and repayment structures designed to align with schools’ operations and cash flow cycles.
Beyond financing, FirstBank is also supporting schools to improve financial management through its Smart School Fees Collection & Payment platform, which provides convenient digital payment options for parents and guardians while helping schools improve payment visibility, tracking and reconciliation.
Mr Adams noted that FirstBank’s approach goes beyond providing individual products, as the Bank seeks to build long-term relationships with schools and support them throughout their growth and digital transformation journey.
“At FirstBank, ‘You First’ is more than a tagline. It is our commitment to putting our customers at the centre of everything we do. For schools, this means understanding your challenges and ambitions and providing solutions that make it easier to finance growth, collect fees and manage your financial operations,” he added.
The Speaker of Parliament, Rt. Hon. Alban Bagbin, commended private schools for their resilience and contribution to quality human development, describing them as a foundation stone of education in Ghana. He called for greater support from the Ministry of Education, Ghana Education Service, National Teaching Council and other relevant authorities, emphasising the need for a conducive operating environment and incentives to enable private schools to grow and contribute further to national development.
Addressing the realities confronting private schools, President of GNAPS, Professor Damasus Tuurosong, stressed the importance of ensuring that teachers receive appropriate professional support and development. He called for a licensing and professional development regime that recognises the realities of private schools and is accessible, affordable and available to teachers across the country. He also urged greater scrutiny of assessment processes, noting that the education sector must remain accountable for the learning outcomes of its pupils.
FirstBank Ghana believes that a financially sustainable and technologically enabled private education sector is critical to Ghana’s human capital development, job creation and broader economic growth. Through FirstEdu and its digital payment solutions, the Bank is supporting schools to overcome financial and operational constraints while investing in infrastructure, technology and expansion.
