Over Shs 520 Billion Disbursed to PDM SACCOS Through Wendi
By Tonny Abet
PostBank’s Wendi mobile wallet has made it possible for the government to disburse Shs 520 billion to 10,589 Saccos in 150 districts.
Launched in November 2023, Wendi is PostBank’s innovative mobile wallet, designed to offer seamless financial services to underserved and last-mile customers.
In collaboration with the government of Uganda, PostBank Uganda has eased the payment of Parish Development Model funds to beneficiaries, deepening the impact of the programme.
By aligning with the PDM, Wendi has played a pivotal role in fuelling household- level investments and revitalizing small businesses nationwide.
The platform has been designed to cater for the diverse needs of Ugandans, providing traders in city markets with the ability to stock up on goods without delay, while rural farmers in distant corners of Uganda can purchase high-quality seeds precisely when needed.
With more than a million users and offering of a competitive 10 per cent interest rate on savings, Wendi is not only driving financial inclusion but also promoting the saving culture among Ugandans, according to a press statement from the bank. Prior to the introduction of Wendi, PDM payments were manual, time-consuming, and often plagued by delays.
However, with Wendi’s digital platform, payments are now processed in real-time, reducing the time taken to disburse funds from weeks to mere minutes, the press statement added.
George Kiyingi, the head of Agent Banking and Fintech Distribution, the partnership with the government’s Parish Development Model (PDM) programme has been instrumental in driving financial inclusion in Uganda.
“This has had a profound impact on local entrepreneurship, fueling household- level investments and revitalizing small businesses nationwide,” he said.
Kiyingi noted that Wendi’s approach extends beyond traditional banking, speaking directly to Uganda’s evolving economy.
“By removing obstacles such as long travel times and complex paperwork, or spending hours in queues, Wendi empowers individuals to capitalize on Uganda’s many emerging opportunities,” he further added.
Edward Katende, the coordinator of the Parish Development Model (PDM) at Operation Wealth Creation, praised Wendi for bringing banking services directly to households.
“Wendi is bringing banking to the hands of households without them having to move far away,” he said.
Katende noted that when the government introduced the Parish Development Model, more than 3.5 million households were in the subsistence economy, with approximately six million Ugandans lacking access to banking services at the time.
“The objective of the Parish Development Model was to transform these households from subsistence to transactional economies, enabling them to sell products, transact and save. Wendi’s arrival marked a significant milestone in this journey,” Katende said.
