PostBank and MTN Uganda have jointly launched “Wendi,” a mobile wallet platform aimed at facilitating the seamless disbursement of PDM (Parish Development Model) funds by the government. Wendi, powered by PostBank, focuses on group savings and funds management, digital money savings, transfers, deposits, and withdrawals to promote financial inclusion in unbanked communities in Uganda.
With only 10% of the population being banked while 53% are using mobile money services, PostBank sees the mobile wallet solution as a means to bridge the gap and provide access to financial resources for unbanked Ugandans. Particularly important for the 74% of Ugandans residing in rural areas, Wendi aims to empower individuals to contribute to the government’s development goals.
Accessible via the Google Play Store and a *229# USSD code, Wendi offers a wide range of mobile transactions, including bill payments, school fees, and B2W/W2B transactions. Over 3000 Wendi agents will be stationed nationwide in the next year to enhance accessibility.
To support the initiative, PostBank and MTN Uganda have distributed smartphones to SACCO representatives in Bukedea, enabling them to facilitate convenient transfers of PDM funds to beneficiaries’ mobile money accounts. The partners also plan to provide gadgets to all SACCOs with accounts in PostBank.
The launch of Wendi has been welcomed as a timely intervention by Norah Anyakoit, the deputy chief administrative officer Bukedea District Representative, who expects faster economic development within parishes. Julius Kakeeto, Managing Director of PostBank, expressed enthusiasm for the collaboration, emphasizing the bank’s commitment to transforming lives through innovative financial solutions.
At MTN, we have been champions of financial inclusion through our mobile money services, and we understand that in Uganda’s development story, no one should be left behind. Our partnership with PostBank on the Wendi mobile wallet is yet another financial inclusion milestone for Ugandans to celebrate.Sylvia Mulinge, CEO, MTN
This collaboration represents our unwavering commitment to transforming the lives of individuals through innovative financial solutions. Wendi is not just a platform; it’s a beacon of hope and a bank for SACCOs set to empower communities, reduce financial burdens, and foster inclusive growth. With Wendi, convenience meets affordability, security, and financial inclusion to make a meaningful difference in people’s lives.Julius Kakeeto, Managing Director, PostBank
PostBank Uganda, a fully-fledged commercial bank, is a government-owned company with a wide branch network and over 400 PostAgents. With its Wendi platform, PostBank aims to strengthen linkages between financial service providers, MSMEs, the government, and the entire country.