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PostBank’s mobile wallet revolutionizes financial inclusion in Uganda
Kampala, Uganda | THE INDEPENDENT | Wendi mobile wallet developed by PostBank has revolutionized the payment process for the Parish Development Model (PDM) program through its innovative digital platform. By leveraging cutting-edge technology, Wendi has successfully digitized PDM payments, reducing processing time, increasing efficiency, and promoting financial inclusion.
Prior to the introduction of Wendi, PDM payments were manual, time-consuming, and often plagued by delays. However, with Wendi’s digital platform, payments are now processed in real-time, reducing the time taken to disburse funds from weeks to mere minutes.
“Wendi has transformed the way we make PDM payments,” said George Kiyingi, Head of Agent Banking and Fintech Distribution at PostBank. “Our digital platform has eliminated the need for manual processing, reducing the risk of errors and increasing the speed of transactions.”
Wendi, launched in 2023, has facilitated the disbursement of sh520 billion to 10,589 Savings and Credit Cooperatives (SACCOs) across more than 150 districts, benefiting over 886,000 members. This has not only improved the efficiency of PDM payments but also promoted financial inclusion by providing access to digital financial services for underserved communities.
President Yoweri Museveni who is on zonal tours of the initiative has expressed satisfaction with the impact of PDM in many parts of Uganda, noting that the initiative has enabled people to invest in livestock, poultry, and other income-generating activities.
He also assured the public of continued support for PDM, with sh100 million allocated annually per parish.
In Lira District, President Museveni particularly praised Mrs. Vicky Apio in Alingiri village, Amach town council, Lira District for her resilience and utilising the PDM money well to expand her farming project.
“I want to thank Vicky Apio for waking up from sleep. Apio is moving very well, she started by growing maize, rearing sheep and bought a plot and continues to grow maize. So, you, the production officers of the district, need to come in and consolidate these people. You heard what Apio was telling you that one challenge she is faced with is that of water. How do you solve the problem of water?” he inquired.
Edward Katende, Coordinator of the Parish Development Model (PDM) program at Operation Wealth Creation, praised Wendi for bringing banking services directly to households. “Wendi is bringing banking to the hands of households without them having to move far away,” he said.
When the government introduced the Parish Development Model program, 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.
The objective of the Parish Development Model was to transform these households from subsistence to transactional economies, enabling them to sell products, transact, and save. Wendi’s arrival marked a significant milestone in this journey.
He noted that Wendi’s mobile banking platform has bridged this gap. “Wendi came on board, and we were able to bring banking services directly to people’s hands through their phones.”
Moses Godfrey Otim, District Commercial Officer in Bukedea, praised Wendi’s efficiency, saying, “Wendi, has had an incredible impact on our community. In just 3-4 months, my district disbursed UGX 16.2 billion to 16,725 people, most of whom had never been part of the traditional banking system.”
Kisiramu Twalib, Chairman of Bugonza LC in Nakalanga, Kaliro District, also appreciated Wendi’s services, saying, “No longer do families 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. Thanks to Wendi, Kaliro residents receive their money conveniently and securely, improving their daily lives.”
Wendi’s digital platform has also enabled PostBank to reduce the cost of transactions, making it more affordable for SACCOs and individuals to access financial services. With over one million active users, Wendi has become a vital tool for SACCOs and individuals alike, providing a secure and convenient way to manage finances.
PostBank and other Government Banks like Pride Bank, and Housing Finance Bank have empowered SACCOs and individuals to take control of their finances, make informed financial decisions, and improve their overall well-being.
The Parish Development Model program is an initiative introduced in Uganda in 2022 with the goal of reducing poverty at the grassroots. It seeks to shift people from subsistence farming and informal economy practices into a more integrated and formalized participation in the monetary economy.
