PostBank Uganda’s innovative mobile wallet, Wendi, has officially surpassed one million users, marking a major milestone just two years after its launch in 2023.
This achievement underscores the platform’s growing impact in driving financial inclusion, digitizing savings groups, and facilitating government disbursements under the Parish Development Model (PDM).
A key attraction of Wendi is its savings product, which allows users to deposit as little as UGX 20,000 and earn a 10% annual interest.
This is a significant step in addressing Uganda’s traditionally poor saving culture—highlighted in the FinScope Uganda 2018 survey, which found that only 54% of Ugandans save regularly.
“Wendi encourages a culture of saving and allows people to see real growth in their money,” said Brenda Mpoora, Head of Fintech Business at PostBank Uganda.
Beyond personal finance, Wendi has become a powerful digital tool for Savings and Credit Cooperatives (SACCOs), Village Savings and Loan Associations (VSLAs), and Investment Clubs.
The app automates savings, loans, payroll, share management, and investment operations, while also increasing accountability—requiring approvals from key group leaders and enabling full member transparency via mobile phones.
Mpoora emphasized that this digital transformation is essential to building credible financial records for groups, which can help them qualify for formal loans and expand their operations.
“Wendi mitigates fund mismanagement, promotes transparency, and builds the digital track record SACCOs need to access larger financing,” she said.
Wendi has also played a central role in delivering PDM funds to grassroots beneficiaries. The Minister of Finance, Matia Kasaija, praised the wallet for reducing the burden on citizens who previously had to travel long distances to access their money.
“Wendi has enhanced transparency, reduced transaction costs, and brought funds to the last-mile beneficiaries,” Kasaija stated.
To ensure its wide adoption, PostBank partnered with several key organizations, including:
- Uganda Micro Finance Regulatory Authority (UMRA)
- Financial Technologies Service Providers Association (FITSPA)
- CARE International
- WENIPS (West Nile Private Sector Development Promotion Center Limited)
These partnerships focused on onboarding SACCOs and enhancing financial literacy nationwide.
According to the National Labour Force Survey (2021), only 6% of Uganda’s population had formal bank accounts, but 17% preferred to save via mobile phones.
Wendi taps into this preference and is supported by robust infrastructure—over 250,000 MTN and Airtel agents, 60 PostBank branches, and more than 3,000 bank agents across Uganda.
By integrating with mobile money platforms from MTN and Airtel, Wendi enables seamless e-payments and fund transfers, aligning with Uganda’s broader goal of building a cashless economy.
