From left, Priscilla Akora, head of marketing and communications at Pearl Bank, and Diana Kahunde, head of brand and marketing at Stanbic Bank, hold a symbol of collaboration with Pearl Bank Managing Director Julius Kakeeto and Stanbic Bank Managing Director Mumba Kenneth Kalifungwa at the Sheraton Hotel on Thursday, Oct. 23, 2025. The launch marked the integration of the Wendi and FlexiPay digital wallets, allowing seamless transactions at subsidized fees to promote financial inclusion in Uganda.
From left, Priscilla Akora, head of marketing and communications at Pearl Bank, and Diana Kahunde, head of brand and marketing at Stanbic Bank, hold a symbol of collaboration with Pearl Bank Managing Director Julius Kakeeto and Stanbic Bank Managing Director Mumba Kenneth Kalifungwa at the Sheraton Hotel on Thursday, Oct. 23, 2025. The launch marked the integration of the Wendi and FlexiPay digital wallets, allowing seamless transactions at subsidized fees to promote financial inclusion in Uganda.

Overview:

Uganda's Pearl Bank and Stanbic Bank integrate Wendi and FlexiPay digital wallets to cut transaction costs for over a million users, boosting financial inclusion.

Kampala—Two of Uganda’s largest financial institutions, Stanbic Bank and Pearl Bank, have integrated their digital wallets, FlexiPay and Wendi, to significantly reduce transaction costs for millions of Ugandans.

The landmark partnership, announced at a joint press briefing in Kampala, will enable seamless movement of money between the two platforms, which collectively serve over one million users. The move signals a shift from competition to collaboration aimed at accelerating the country’s digital financial inclusion agenda.

The banks say the integration will make financial services more affordable and accessible across the nation, particularly in rural communities.

Mumba Kenneth Kalifungwa, chief executive of Stanbic Bank Uganda, framed the alliance as a victory for the average customer. “This partnership is a win for ordinary Ugandans,” he said. “By connecting FlexiPay and Wendi, we are breaking down digital walls and ensuring that no matter where you live or who you bank with, you can transact safely and affordably.”

He noted that the integration supports Stanbic’s focus on serving women, youth and farmers (WYF), adding that FlexiPay already allows users to pay merchants and utility bills at low or no charges, while also enabling them to save and access credit.

Julius Kakeeto, managing director and chief executive of Pearl Bank Uganda (formerly PostBank Uganda), said the collaboration was timely. “Wendi has been at the heart of implementing government programmes that promote financial inclusion,” Kakeeto said. “The partnership with FlexiPay is timely because our users will gain greater convenience and access to a wider merchant and agent network.”

Wendi, which has more than 1 million customers and 8,000 agents, also offers users 10 per cent annual interest on savings.

The combined network promises to reach deeper into rural areas, where many Ugandans—especially in farming and trade—remain financially excluded despite progress.

According to the National Financial Inclusion Strategy (2023-2028), access to formal financial services in Uganda improved from 52 per cent in 2013 to 68 per cent in 2023. However, digital access remains a challenge for many outside urban centers.

Stanbic’s FlexiPay currently has more than 17,800 agents and supports hundreds of SACCOs (Savings and Credit Cooperative Organisations). Pearl Bank’s Wendi has been instrumental in easing government payments under the Parish Development Model (PDM).

The banks will roll out the integration in phases, starting with joint awareness campaigns and shared agent support programs across key agricultural and trading regions.