Wendi, a digital mobile wallet developed by PostBank Uganda, which has embarked on a journey to rebrand to Pearl Bank, launched a financial literacy and inclusion campaign targeting the unbanked and underbanked population to accelerate financial inclusion across the country.
Launched in mid-July, the financial inclusion drive is being carried out across Kampala, Mukono, and Wakiso, and over 5,000 individuals have so far participated. These engagements in Kampala, Wakiso, and Mukono are just the beginning, and plans are underway to expand this grassroots campaign to more districts soon, ensuring that no Ugandan is left behind in the country’s journey to financial inclusion for all.
The campaign will run until the end of August this year, with the intention of educating communities on how they can access and leverage the existing financial services offered by the bank.
“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, so that we engage with them and show them that these services are accessible, inclusive, and simple.”
During the training, communities showed interest in the Wendi 10% offering, a savings feature that allows customers to save UGX20,000 or more and earn an annual interest rate of 10%, credited daily.
“We are thrilled about the positive reception in the markets so far. A standout feature of the Wendi platform is its tailored product for saving groups. SACCOs, VSLAs, Investment Clubs, and other community savings groups can digitize their operations using Wendi’s group savings tool, ensuring transparency, security, and efficiency in group financial management,” explained Mpoora.
According to the FinScope Uganda 2023 survey, over 5.3 million Ugandans remain financially excluded, with many lacking access to formal banking systems. Recognizing this gap, Wendi is stepping in as a transformative platform designed to deliver accessible, affordable, and user-friendly financial services to the people who need them most. The initiative aligns strongly with the government’s financial inclusion agenda and the Bank of Uganda’s National Financial Inclusion Strategy, which emphasizes reaching underserved communities through digital financial services.
PostBank implements activities that align with its purpose of fostering prosperity for Ugandans, and this is evident through the Bank’s service range, like Wendi, which is designed to complement the government’s efforts of improving household incomes through initiatives like the Parish Development Model.
Wendi offers digital microloans, giving users timely access to funds without the bureaucracy of traditional lending. Through its Western Union integration, Wendi also facilitates sending and receiving money across borders, connecting Ugandans globally to financial services at home.
The wallet’s onboarding process is seamless, requiring only a national ID and phone number. There’s no paperwork involved, and users don’t need to be existing PostBank customers or visit any branch location. The user-friendly interface ensures that even first-time digital users can navigate the app and the *229# USSD code with ease.
As adoption grows, so does the wallet’s agent network. Currently, there are over 6,000 agents, expanding its physical support base across Uganda and reinforcing accessibility.
Beyond individual use, Wendi serves a broader audience by enabling wallet-to-wallet transfers, as well as cross-platform transfers between Wendi and mobile networks like MTN and Airtel, thanks to strategic partnerships. The platform is also integrated with several local partner banks, including Housing Finance, Pride Bank, Opportunity Bank, Guaranty Trust Bank, and Exim Bank, allowing users to deposit directly to their bank accounts.
Businesses, including fuel stations, restaurants, and hotels, now receive and make payments through Wendi, opening up digitization opportunities in Uganda’s informal and formal sectors. Therefore, Wendi is not just a tool for transactions but also a vehicle for wealth building.
