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Officials from Post bank, WENIPS, Nebbi District, SAACO leaders, pose for a photo after Wendi mobile wallet Press Launch at WENIPS Offices in Nebbi Municipality on October 28, 2024. Photo by Mike Rwothomio. By Mike Rwothomio Zombo Post Bank in partnership with
Officials from Post bank, WENIPS, Nebbi District, SAACO leaders, pose for a photo after Wendi mobile wallet Press Launch at WENIPS Offices in Nebbi Municipality on October 28, 2024. Photo by Mike Rwothomio.
By Mike Rwothomio
Zombo
Post Bank in partnership with West Nile Private Sector Development Promotion Centre Ltd (WENIPS), has launched Wendi Mobile financial platform in the West Nile sub region.
Under this partnership, the organization targets to incorporate over 7,500 SAACOS and village savings and loans Associations from the west Nile districts of Nebbi, Yumbe, Arua, Koboko, Moyo, and Adjumani.
Launched by Post Bank in 2023, Wendi mobile wallet is a mobile money service platform designed to promote financial inclusion to all Ugandans by enabling them to securely save and manage their finances conveniently and offer financial services to undeserved and last mile customers, access, manage and transact funds efficiently.
Patrick Okwi Osakan, the Postbank`s regional distribution head for Northern and West Nile region during the Press launch on October 28, urged west Nile community more especially the village saving groups to embrace the innovative financial solutions, that foster robust savings cultures amongst the populace, mentioning that “the beauty with this post bank product is that, it has a 10 % interest that a customer earns on daily basis”
He added that the reliability of electricity in the West Nile sub region combined with Wendi's digital financial services, is expected to enable the digitization of informal savings mechanisms.
There is hope that the digital system will be beneficial to the West Nile community, most of whom lack traditional bank accounts, as it grants users access to its full package of services without owning bank accounts.
Onegi Jenaro Oringi, the Chief Executive Officer of West Nile private sector promotion Development Promotion Centre Ltd (WENIPS), said they target to serve the community with a major focus on the village savings, youths groups, farmer groups including the Women Groups.
He emphasized that through Wendi, communities are encouraged to save and also borrow loans, so that they can become the masters of their own destiny, revealing that it will help people pay for their food, bills, education amongst others out of revolutionized financial literacy.
“Wendi is going to help this group to have a user-friendly digital system, affordable services, and security for their money. Through Wendi, one can get a loan, save his money and we can do so many services that the community lacks” Onegi noted.
He also added that “this collaboration is going to pave way for more inclusive financial landscape, propelling West Nile and Uganda towards economic growth and Prosperity”
The Assistant Resident District Commissioner of Nebbi Ronald Owacgiu, expresses happiness over the innovative partnership between the two entities, adding that “when we look at this partnership, it’s in line with president Museveni’s target of vision 2040, I encourage my people to embrace this partnership so that we can reach the middle income economy”
Muhamad Adrisi, one of the SAACO group members from Nebbi Municipality during the launch, lauded this partnership noting that “we used to lose our money due to improper way of keeping our money, this will help us in various saving groups to save our money in a secure way in our savings account”
With over 1.3million subscribers nationwide, Wendi mobile wallet licensed by National Payments Systems Act can be accessed on both google play and App store or by dialing *229#.
It has supported the implementation of some of the projects payment of Parish Development Model funds to beneficiaries and disbursement of relief funds to Bududa landslide victims amongst others.