The West Nile community has been called upon to embrace digital transformation as a gateway to economic empowerment, citing Wendi mobile wallet as a key driver towards scaling up financial inclusion in the region. This appeal was made during the launch of a strategic partnership between the West Nile Private Sector Development Promotion Centre Limited (WENIPS) and Wendi by PostBank, in Nebbi district.
The partnership intends to connect over 7,500 SACCOs and Village Savings and Loan Associations to Wendi’s mobile financial platform in the West Nile regional districts Nebbi, Arua, Yumbe, Koboko, Moyo, and Adjumani.
“I am delighted about our collaboration with PostBank to use Wendi mobile wallet to digitize our savings groups,” said Jenaro Onegi, CEO of WENIPS. “Harnessing digital technology will enhance financial literacy, security, and convenience for our members, empowering them economically and building resilience.”
This collaboration between WENIPS and Wendi is paving the way for a more inclusive financial landscape, propelling West Nile and Uganda towards economic growth and prosperity. WENIPS plays a vital role in fostering financial inclusion across West Nile.
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Uganda’s third National Development Plan (NDP III) highlights that financial inclusion and digital financial literacy are key to achieving sustained economic growth. Digitizing VSLAs and SACCOs with Wendi aligns with these national objectives, enhancing financial literacy and creating a more resilient economy in the West Nile region.
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 by delivering innovative financial solutions that foster a culture of saving among Ugandans. “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,” he said.
The Assistant Resident District Commissioner (RDC) of Nebbi District, Owachgiu Donald, said, “I commend PostBank Uganda for its foresight leadership by introducing the Wendi mobile wallet in West Nile. This will enable our people to have access to financial services, which will aid their participation in initiatives that boost socio-economic growth.”
Owachgiu called upon Ugandans to take advantage of Wendi and participate in the nation’s progress, which will see the country transition from a peasant economy to a modern economy, which aligns with the government’s 2040 vision.
Wendi mobile wallet allows users to access its services without necessarily owning a bank account. The platform can be accessed on smartphones and feature phones, and users don’t have to be PostBank Uganda customers to use it. Thus, the collaboration is timely as it will boost access to financial services for West Nile residents who may lack traditional bank accounts.
West Nile was recently added to the national electricity grid through the Grid Extension and Reinforcement Project (GERP), a joint effort by the Ugandan Government and the World Bank to meet the national goal of Universal Access to Electricity by 2030. Access to reliable electricity, combined with Wendi’s digital financial services, this development is expected to boost the local economy by enabling the digitization of informal savings mechanisms and boosting the region to achieve its full potential.
See also: UMRA, PostBank to digitize tier IV microfinance institutions with Wendi platform
