The long-awaited Laptop Loan Scheme for Students and Staff at Makerere University finally got underway on Thursday 10th March 2022 at ceremony presided over by the Vice Chancellor, Prof. Barnabas Nawangwe and the Stanbic Bank Uganda (SBU) Chief Executive (CE), Ms. Anne Juuko. On hand to witness the ceremony was the Guild President H.E. Shamim Nambassa and Speaker Rt. Hon. Gatuya Mucyo.

The Scheme will enable students and staff to access an unsecured loan to the tune of UGX 5million payable over a period of three years or less, at an interest of 13% per annum. The monthly payments which start from as low as UGX 71,000 will also cover insurance for the laptops against theft and damage. The launch follows the signing of an MoU between Makerere and Stanbic on 15th February 2022.

“The documentation has been kept very simple” remarked Sam Mwogeza, Head, Consumer and High Net Worth, SBU. “We’ll have a very simple application form, a nomination form and detail of the parent’s account for where payments will be settled. Our team at the branch (Makerere) are fully available to walk you through these consultations” he added.

According to the vendor HGZ Technologies represented by Simon Nkuyahaga, the laptops will come in three categories based on processing power. The basic ones will have two (2) cores/processors, mid-range ones will have four (4) cores/processors and the high-end ones will have eight (8) cores/processors. Each laptop will also have a battery life of eight (8) to ten (10) hours, extendable to fourteen (14) hours using an extra backup battery.

“We’ll have Microsoft 356 for students for one year so that all your documents are automatically stored in the cloud… we also give a one year warranty meaning we will have a team here to support technical issues with the laptop, at the same time we will train some students from Computer Science through internship with us so that they can support you” added Simon Nkuyahaga.

Additionally, all laptops purchased through the scheme will be automatically connected to the Research and Education Network for Uganda (RENU) for WiFi access to educational websites. For students who live in areas with irregular access to electricity, add-ons such as solar bundles may be purchased to provide up to 24 hours of backup power.

“We are proud to be working with you to provide real solutions to real problems and I want to start by thanking you Professor (Nawangwe) for giving us a chance to work with you and your team. Through this partnership we say that ‘Impossible is nothing'” remarked Ms. Anne Juuko.

The Chief Executive shared that the Scheme has been structured with the students at the centre, so as to enable them achieve their academic and professional goals. She therefore urged the student body to give timely feedback that can SBU work with the vendor to further refine customer support and service delivery.

Ms. Juuko said that the scheme is an answer to SBU’s observation that brilliant young people all over Uganda lack the necessary tools such as computers to help them embrace opportunities in digital spaces. She nevertheless asked the students to take good care of their laptops so as to make the most of their parent’s investment, noting that the devices can serve them well for up to five years.

“So that long after you have paid pack the loan, you can still use this device. But beyond that, if you do it well, you enable us to continue to provide this service to other people out there. This is a volume game; the more of you subscribe, the lower the unit cost” explained Ms. Juuko.

Addressing himself to the students, Prof. Barnabas Nawangwe concurred with the SBU CE’s assertion that Africa is on the move largely due to its young people.

“You are the cream of Africa because you are in the top University and this top university takes the cream. And so the future of Africa is in your hands; you either make Africa better or you break it” counselled the Vice Chancellor.

Prof. Nawangwe expressed his gratitude to Stanbic and the CE in particular for the vibrancy exhibited in addressing issues that affect Uganda’s development. “The initiative you took to ensure that the Education sector comes back to life is extremely important.”

Earlier, Ms. Juuko had shared that SBU, in a bid to revive the education sector follow the devastating effects of COVID-19, had forgiven schools a full year of interest for 2021 on all loan repayments.

The Vice Chancellor furthermore thanked SBU for, without hesitation, agreeing to fund the Laptop Loan Scheme with favourable terms that cover insurance and servicing. “Stanbic has made this so affordable.”

Prof. Nawangwe therefore called upon the Guild Leadership to sensitise the student body about the unique offer. “One thing you need to understand is that with a computer and with data, you are a truly global citizen; you can attend classes anywhere in the world, get notes from any university if you want to compare and broaden your knowledge, and apply for jobs after university anywhere in the world… Take up the opportunity and look boldly into the future.”

H.E. Shamim Nambassa on her part shared that closure of the University due to COVID-19 marked a particularly tough time for students, due to limited access to laptops. “We kept demanding and asking for where the laptop bank is, but little did we know that Stanbic Bank would bring us the laptop bank. Thank you so much.”

The Guild President particularly thanked Stanbic Bank for redefining the education sector by ushering students into the digital era at an affordable cost. This, she noted, would help them become true agents of the transformative society that Makerere University seeks to build as she celebrates 100 years of existence this year.

“I want to thank the University Administration for bringing this forward for us as a student fraternity, and I want to call upon each and every student in Makerere University and let you know that the cry is over” H.E. Nambassa summed up.

Addressing guests at the launch, Guild Speaker, Rt. Hon. Gatuya Mucyo reiterated the Students’ appreciation to Prof. Nawangwe and the University Management for initiating the partnership, as well as Ms. Anne Juuko for thinking about and giving back to her alma mater. He equally thanked the Student Leadership for embracing the idea and the student body for exhibiting great willingness to participate in the scheme since the MoU was signed in February.

He nevertheless requested SBU to avail more opportunities to students in form of internships beyond the proposed on-campus laptop service centres. He reassured the gathering of the Student Guild’s readiness to mobilise and sensitise the student body about the Laptop Loan Scheme.

To secure your laptop, visit Stanbic Bank Makerere or any other branch with your parent/guardian and fill out the required forms.

For further enquiries call +256 312 224600 or 0800 250250 (Toll Free)