PostBank Uganda says its mobile wallet, Wendi, has surpassed one million users—marking a major milestone just two years after its launch.
In a statement issued on Thursday, the bank said the rapid uptake of the platform is being driven by its user-friendly savings feature, which allows users to save from as little as UGX 20,000 while earning 10% interest per year.
“This mobile wallet addresses Uganda’s poor saving culture,” the bank said, referencing the FinScope Uganda 2018 survey, which found that only 54% of Ugandans reported saving money. “In today’s economic climate, many individuals struggle to build sufficient savings due to stagnant wages and increasing living costs.”
Wendi’s broader impact, according to the bank, goes beyond personal savings. The platform digitises operations for Savings and Credit Cooperatives (SACCOs), Village Savings and Loan Associations (VSLAs), and Investment Clubs—making it easier for groups to manage savings, loans, payrolls, and investments.
“Wendi has simplified and automated financial management for these groups,” said Brenda Mpoora, Head of Fintech Business at PostBank Uganda. “By enabling digital records and requiring approvals from key members before disbursements, it’s helping prevent the mismanagement of funds that has troubled SACCOs in the past.”
The platform has also been a key channel for disbursing government funds, including those under the Parish Development Model (PDM), allowing direct transfers to beneficiaries’ phones. Finance Minister Matia Kasaija endorsed the initiative, noting that it has reduced the burden of travel for rural communities who previously had to cover long distances to access banking services.
“Wendi has enhanced transparency by providing full visibility and traceability of all funds up to the last-mile beneficiary,” he said. “It has also lowered transaction costs for PDM recipients.”
To support adoption, PostBank partnered with the Uganda Microfinance Regulatory Authority (UMRA) during the initial rollout. Other collaborators include CARE International and the Financial Technologies Service Providers Association (FITSPA), with a focus on financial literacy and onboarding rural savings groups.
The National Labour Force Survey (2021) revealed that just 6% of Uganda’s population had bank accounts, while 17% preferred saving through mobile phones due to convenience. Wendi taps into this trend, leveraging MTN and Airtel networks to facilitate mobile payments and transfers.
With access to over 250,000 telecom agents nationwide, 60 PostBank branches, and more than 3,000 banking agents, Wendi is now firmly positioned as a key tool in Uganda’s push towards a cashless, digitally inclusive economy.
