Women Cherish Wendi
HABARI DAILY I Kampala, Uganda I PostBank Uganda has solidified its position as one of the most vibrant commercial banks in Uganda through the Wendi Mobile Wallet, a payment platform developed to facilitate the disbursement of Parish Development Model (PDM) funds.
Through Wendi, up to sh520b has been passed on to 10,589 Savings and Credit Cooperatives (SACCOs) across Uganda, reads a press statement from the bank.
It called this a a significant milestone in the country’s financial inclusion journey.
George Kiyingi, PostBank’s Head of Agent Banking and Fintech Distribution at Wendi, said the partnership with the government’s program has been instrumental in driving financial inclusion in Uganda.
“By aligning with the PDM, the government banks through Wendi have been able to facilitate the disbursement of sh580b directly to SACCOs across more than 150 districts,” he said, adding that this has had a profound impact on local entrepreneurship, fueling household-level investments and revitalizing small businesses nationwide.”
He said Wendi’s robust, user-friendly platform has streamlined transactions, savings, and withdrawals, making it easier for traders and farmers to access financial services.
1 million active users
“With over one million active users, the platform has had a significant impact on local economies, enhancing financial literacy and trust in formal financial systems,” he further noted.
Residents sign up for Wendi
With a competitive 10% interest rate on savings, Wendi is not only driving financial inclusion but also promoting the saving culture among Ugandans.
Kiyingi further disclosed that Wendi’s approach extends beyond traditional banking, speaking directly to Uganda’s evolving economy.
“By removing obstacles such as long travel times and complex paperwork, or spending hours in queues Wendi empowers individuals to capitalize on Uganda’s many emerging opportunities,” he said.
President Yoweri Museveni earlier on explained that 100 families per parish must be able to get Sh100 million with each of the beneficiaries expected to pay back the money after three years.
“By the end of the five-year term, the parish bank will have Sh800 million,” He said in his address hinged on wealth generation by individual families through home income projects.
He added that in three years, the Government would have covered 300 homesteads, and still in the third year.
Edward Katende, the Coordinator of the PDM at the Operation Wealth Creation secretariat, praised Wendi for bringing banking services directly to households. He said when the Government introduced the PDM, over 3.5 million households were in the subsistence economy, with approximately 6 million Ugandans lacking access to banking services.
“At the time, numerous microfinance initiatives existed, but 16 million Ugandans remained financially excluded,” he pointed out in a recent interview.
He further noted that the objective of the PDM is to transform these households from subsistence to transactional economies, enabling them to sell products, transact, and save.
“Wendi’s mobile banking platform has bridged this gap. With it we have been able to bring banking services directly to people’s hands through their phones.”
Moses Godfrey Otim, the Bukedea District Commercial Officer praised Wendi’s efficiency, saying that the platform has had an incredible impact on their community.
“In just 3-4 months, we as a district disbursed sh16.2 billion to 16,725 people. Most of these had never been part of the traditional banking system,” he said.
Kisiramu Twalib, the Bugonza LC I Chairman in Nakalanga, Kaliro District, also appreciated Wendi’s services, saying families no longer have to endure long, tiring journeys to distant banks or spend hours in queues.
“Instead, funds are sent directly to our mobile phones, accompanied by instant SMS confirmations.”
Kaliro District grateful
Fred Gwigo, a resident of Nakalanga, Kaliro District, highlighted the importance of financial literacy.
“Wendi has enabled many of our people to launch businesses like poultry farming and coffee cultivation. These ventures are flourishing, creating sustainable livelihoods,” he pointed out.
Tumwijukye Annet, a mobilizer from Threads of Blessing in the Rwenzori Diocese, also emphasized the importance of e-banking.
“This app has enabled us to learn about e-banking, which is very important for Ugandans to embrace if they are not to be left behind.
PDM is a Government strategy aimed at eradicating poverty and fostering socio-economic transformation in Uganda by focusing on the parish as the lowest administrative and operational hub for planning and development.
Residents sign up for Wendi
It is designed to deliver inclusive and sustainable development by addressing issues of production, financial inclusion, and service delivery at the grassroots level.
The PDM program is being facilitated by Wendi, which was launched in November 2023 s PostBank’s innovative mobile wallet. It is designed to offer seamless financial services to underserved and last-mile customers.
Priscilla Akora, PostBank’s Head of Marketing and Communications, said that with over 6,000 active agents across Uganda, Wendi is committed to forging meaningful partnerships with government programs and community leaders to ensure every Ugandan has access to financial services.
She added that the Wendi mobile wallet has been able to support implementation of some of project such as the payment of PDM funds to beneficiaries, disbursement of relief funds to Bududa landslide victims, among others.
