KAMPALA, Uganda — PostBank Uganda announced Thursday that its mobile wallet, Wendi, has garnered over one million users within two years of its launch, highlighting the increasing demand for accessible digital financial services nationwide.

The bank credited Wendi’s swift growth to its innovative savings product, which allows users to save as little as 20,000 Ugandan shillings and earn a 10% annual interest rate. This feature directly addresses Uganda’s savings culture, where only 54% of the population actively saves, according to the 2018 FinScope Uganda survey.

Brenda Mpoora, Head of Fintech Business at PostBank Uganda, stated that Wendi is transforming financial management for individuals and groups.

“Wendi encourages a sustainable savings culture and offers significant returns over time,” Mpoora said. “But its true strength lies in the digitization of SACCOs, VSLAs, and investment clubs, simplifying operations such as savings, loans, payroll, and investment tracking.”

She added that the platform enhances accountability through a joint approval system for fund disbursements and allows members to monitor transactions via their mobile phones.

Wendi has also played a significant role in facilitating government programs like the Parish Development Model (PDM), enabling direct fund disbursement to beneficiaries, improving transparency, and reducing transaction costs.

Minister of Finance, Planning and Economic Development, Hon. Matia Kasaija, endorsed the wallet, noting its impact on PDM beneficiaries by eliminating the need for long-distance travel to access funds and ensuring transaction traceability.

To accelerate adoption, PostBank collaborated with the Uganda Microfinance Regulatory Authority (UMRA) to onboard Village Savings and Loan Associations (VSLAs) during Wendi’s pilot phase. Partnerships with FITSPA, CARE International, and the West Nile Private Sector Development Promotion Center (WENIPS) have further expanded financial literacy and access across the country.

With only 6% of the population holding bank accounts, according to the 2021 National Labour Force Survey, and 17% preferring mobile saving options, Wendi addresses a critical need in Uganda’s financial landscape.

The wallet integrates with major Mobile Network Operators—MTN and Airtel—allowing users to send and receive money, pay for utilities, and purchase airtime. It is accessible through an extensive network of over 250,000 telecom agents, 3,000 PostBank agents, and 60 branches nationwide.

Notably, a PostBank account is not required to use Wendi, making it a versatile financial solution for both banked and unbanked individuals.

As Uganda progresses toward a cashless economy, Wendi is emerging as a key driver of financial inclusion, digital literacy, and economic empowerment, particularly in rural and underserved communities.