Overview:
PostBank Uganda's digital wallet, Wendi, has trained over 5,000 individuals in Kampala, Wakiso, and Mukono to accelerate financial inclusion. The campaign aims to bring financial services to underserved communities.
KAMPALA, Uganda— PostBank Uganda’s digital mobile wallet, Wendi, has trained more than 5,000 people in Kampala, Wakiso, and Mukono districts as part of a campaign to accelerate financial inclusion.
The initiative, launched in mid-July, targets unbanked and underbanked communities across 30 markets. It aims to educate the public on how to access and use financial services offered by the bank, which is in the process of rebranding to Pearl Bank. The drive will continue until the end of August.
A standout feature is Wendi’s savings product, which offers a 10% annual interest rate on savings of 20,000 Ugandan shillings or more. The interest is credited daily.
“Wendi is not just another wallet, it is a game-changer in Uganda’s digital finance space,” said Brenda Mpoora, head of Fintech Business at PostBank Uganda. “We are taking financial services right into the hearts of communities, markets, trading centers, and neighborhoods where people live and work.”
According to the FinScope Uganda 2023 survey, more than 5.3 million Ugandans lack access to formal banking systems.
Mpoora highlighted that the Wendi platform also offers a group savings tool for SACCOs, VSLAs, and investment clubs, along with digital microloans and Western Union integration for international money transfers.
“These engagements in Kampala, Wakiso, and Mukono are just the beginning, and plans are underway to expand this grassroots campaign to more districts soon,” Mpoora said.
To sign up, users only need a national ID and a phone number. No paperwork is required, and users do not have to be existing PostBank customers. The wallet is available through a mobile app and the *229# USSD code.
Wendi has a network of over 6,000 agents and allows for cross-platform transfers with mobile networks like MTN and Airtel, as well as several local partner banks. The platform also enables businesses to receive and make payments digitally. It offers low transaction fees for services such as URA and school fees payments and utility bills.