PostBank’s Wendi mobile wallet has entered a partnership with the West Nile Private Sector Development Promotion Centre Limited (WENIPS) aimed at driving financial inclusion.
The appeal was made during the launch of a strategic partnership between and Wendi by PostBank, in Nebbi district.
The partnership launched in Nebbi intends to connect over 7,500 SACCOs and Village Savings and Loan Associations (VSLAs) to Wendi’s mobile financial platform in West Nile, and districts like Nebbi, Arua, Yumbe, Koboko, Moyo, and Adjumani are targeted.
Uganda’s third National Development Plan (NDP III) highlights that financial inclusion and digital financial literacy are key to achieving sustained economic growth.
Speaking at the event, Patrick Okwi Osakan, PostBank’s Regional Distribution Head for the Northern and West Nile regions, reaffirmed PostBank’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,” Mr. Osakan said.
He said Wendi mobile wallet allows users to access its full package of services without necessarily owning a bank account, since one can access the Wendi mobile wallet platform both on a smartphone and a feature phone and they don’t have to be a PostBank Uganda customer to use it.
Officials said the collaboration will boost access to financial services to West Nile residents who may lack traditional bank accounts.
West Nile was recently added to 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.
Nebbi District Assistant RDC, Owachgiu Donald applauded PostBank for its efforts to drive financial inclusion.
“Government’s 2040 vision puts emphasis on integrating ICT in different sectors to harness the numerous opportunities around us. Therefore, I commend PostBank Uganda for its foresight leadership by introducing the Wendi mobile wallet, which platform is designed to enable our people have access to financial services which will aid their participation in initiatives that boost socio-economic growth.”
He urged the people of West Nile and Ugandans at large to take advantage of platforms like Wendi by PostBank to enable them take part in the progress of the nation
WENIPS CEO Jenaro Onegi also emphasized the significance of this partnership
“I am delighted to announce our collaboration with PostBank, using their Wendi mobile wallet to digitize our savings groups. This strategic partnership aligns with Uganda’s national economic transformation agenda. Harnessing digital technology will enhance financial literacy, security, and convenience for our members, empowering them economically and building resilience.”
