Wendi Mobile Wallet, a payment platform developed by Post Bank has facilitated the disbursement of Shs520 billion to 10,589 Savings and Credit Cooperatives (SACCOs) across Uganda, marking a significant milestone in the country’s financial inclusion journey.
According to George Kiyingi, Head of Agent Banking and Fintech Distribution at Wendi, the partnership with the government’s Parish Development Model (PDM) 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 Shs 580 billion directly to SACCOs across more than 150 districts,” Kiyingi said. “This has had a profound impact on local entrepreneurship, fueling household-level investments and revitalizing small businesses nationwide.”
Wendi’s robust, user-friendly platform has streamlined transactions, savings, and withdrawals, making it easier for traders and farmers to access financial services. 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. With a competitive 10% interest rate on savings, Wendi is not only driving financial inclusion but also promoting the saving culture among Ugandans.
Kiyingi noted 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.
In his breakdown of the PDM cash flow, President Museveni has explained that 100 families per parish must be able to get Shs100 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 Shs 800 million, Mr. Museveni said in his address hinged on wealth generation by individual families through home income projects.
“In three years, we will have covered 300 homesteads, and still in the third year, those who would have got the Shs1 million will be returning it. That means in five years, it will be Shs.500 million per parish, plus the Shs 300 million that will have been returned by previous borrowers, making it Shs 800 million in your parish bank. If we do that for two terms, the parish will have got Shs. 1 billion and Shs 600 million,” President Museveni said, while giving an example of a parish in Kawumu, Luwero district, with 1,200 homesteads that will be covered in ten years with the potential to borrow more than Shs 1 million because the money will be more.
Edward Katende, Coordinator of the Parish Development Model (PDM) 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, 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.”
The impact of Wendi’s services is evident in the testimonials of its users. Moses Godfrey Otim, District Commercial Officer in Bukedea, praised Wendi’s efficiency, saying, “Wendi platform 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.”
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.” However, he also cautioned users to safeguard their mobile phone PINs. “Some of our people in our community have had their funds stolen. My message to you all: use Wendi responsibly and protect your financial details.”
Tumwijukye Annet, a mobilizer from Threads of Blessing in the Rwenzori Diocese, also emphasized the importance of e-banking.
“It was very important for us to learn more, especially about e-banking. E-banking is very important for this group, and we are going to have to embrace it.”
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. It is designed to deliver inclusive and sustainable development by addressing issues of production, financial inclusion, and service delivery at the grassroots level.
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.
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