African countries have been challenged to embrace digital transformation in higher education financing as demand for tertiary education grows amid difficult fiscal conditions and changing demands in the job market.

Deputy Education Minister Dr Clement Abas Apaak says financing systems must evolve alongside education systems to ensure that young people have the opportunity to acquire the skills needed for the future.

Speaking at the annual conference of the Association of African Higher Education Financing Agencies (AAHEFA) held on Monday, 14th September, 2026, at the La Palm Royal Beach Hotel in Accra, Dr Apaak said Africa could no longer rely on traditional approaches to finance higher education.

“We cannot finance the future using only the assumptions of the past.”

He said artificial intelligence, digital platforms and changing business models are already reshaping industries, with employers increasingly demanding digital literacy, data analysis, problem-solving and adaptability.

Dr Apaak therefore called for technology to be used to make higher education financing more accessible, efficient and responsive to students’ needs.

He said the real test of digital transformation should be whether a young person from a low-income household can access financing without travelling long distances or waiting months for a decision.

SLTF rolls out digital loan application system

The call comes as the Students Loan Trust Fund (SLTF) prepares to fully digitalise its loan application system from the current academic year.

Chief Executive Officer of the SLTF, Dr Saajida Shiraz, said the new system will allow students to validate their identities in real time through integration with the National Identification Authority and their institutional enrolment databases.

Students will also be able to open e-bank accounts with GCB Bank, sign loan agreements digitally and access their funds without visiting a banking hall.

The Fund is also introducing a 24-hour artificial intelligence chatbot, SIKA — Student Information and Knowledge Assistant — to respond to student enquiries.

Dr Shiraz said the SLTF has also integrated its systems with the Controller and Accountant-General’s Department, which has formally recognised student loan repayment as a statutory deduction.

She said the measures demonstrate how technology can be used to expand access to tertiary education while strengthening the sustainability of higher education financing.

Balancing technology with human needs

Dr Apaak, however, cautioned that digital transformation must not become an end in itself.

He said financing agencies must also protect students’ privacy, strengthen cybersecurity and maintain human oversight as the use of data and artificial intelligence increases.

“A student must never become merely a data point,” he said.

The Deputy Minister also called for a balance between financial responsibility and the realities graduates face in difficult labour markets.

He warned that while sustainable loan recovery is important, placing too much emphasis on recovery without considering graduates’ circumstances could undermine the social purpose of higher education financing.

Dr Apaak further urged African financing agencies to deepen collaboration and develop shared approaches to digital systems, student verification and data, as well as mechanisms to support students who pursue higher education across borders.

He said decisions being made on higher education financing today will shape Africa’s human capital and its ability to compete in a rapidly changing global economy.