NEBBI, Uganda — PostBank Uganda has set its sights on connecting over 7,500 Savings and Credit Cooperatives (SACCOs) and Village Savings and Loan Associations (VSLAs) to its innovative Wendi mobile financial platform in the West Nile region to propel economic empowerment through digital transformation.
The ambitious initiative was unveiled during the launch of a strategic partnership between PostBank Uganda and the West Nile Private Sector Development Promotion Centre Limited (WENIPS) in Nebbi district on October 28.
Patrick Okwi Osakan, PostBank’s Regional Distribution Head for the Northern and West Nile regions, reaffirmed the bank’s commitment to fostering prosperity for Ugandans through innovative financial solutions. “With Wendi, we are empowering individuals and groups, particularly those underserved by traditional banks, to access secure savings accounts, earn 10% annual interest on daily savings, and complete various financial transactions with ease,” Mr. Osakan stated.
Wendi mobile wallet, launched in November 2023, allows users to access financial services without necessarily owning a bank account. This feature is expected to boost access to financial services for West Nile residents who may lack traditional bank accounts.
The partnership aligns with Uganda’s National Development Plan (NDP III), which highlights financial inclusion and digital financial literacy as key drivers of sustained economic growth. Digitizing VSLAs and SACCOs with Wendi is poised to enhance financial literacy and create a more resilient economy in the West Nile region.
Jenaro Onegi, WENIPS CEO, emphasized the significance of this partnership. “I am delighted to announce our collaboration with PostBank, using their Wendi mobile wallet to digitize our savings groups. This strategic partnership aligns with Uganda’s National Economic Transformation Agenda.”
The collaboration is timely, as West Nile was recently connected to the national electricity grid through the Grid Extension and Reinforcement Project (GERP). Access to reliable electricity, combined with Wendi’s digital financial services, is expected to boost the local economy.
Representing the Chief Guest, the Resident District Commissioner (RDC) Nebbi District, Assistant RDC Owachgiu Donald commended PostBank Uganda for its foresight leadership in introducing the Wendi mobile wallet. “I call upon the people of Nebbi and neighboring areas to take advantage of platforms like Wendi by PostBank, enabling everyone to participate in the progress of the nation.”
PostBank Uganda’s commitment to financial inclusion has been demonstrated through its extensive network of 58 branches countrywide and over 3,000 agents, complemented by PostMobile, PostApp, PostOnline, and smart ATMs.
Wendi mobile wallet has onboarded over 1.3 million subscribers and works with over 4,000 agents countrywide since its inception.
