The Big Story

How SACCOs and Saving Groups can Bridge the Financial Inclusion Divide: A Case of Wendi Mobile Wallet 

PostBank Uganda Head Fintech Business - Brenda Mpoora

By Brenda Mpoora  Saving and Credit Cooperative Societies (SACCOs) are making a tremendous contribution in promoting a savings culture and driving financial inclusion to the last mile user in Uganda.  A closer look at the 2023 FinScope report shows SACCOs had the highest growth of uptake in formal financial services from 5 percent to 14 percent. Since 2018, SACCOs grew much more in adoption against all financial services, with the proportion of Ugandans utilizing them for savings and credit more than doubling.  Beyond the uptake, SACCOs have numerous needs ranging from technology, digital infrastructure, compliance and capital to scale.  With…

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About the Author

Paul Murungi is a Ugandan Business Journalist with extensive financial journalism training from institutions in South Africa, London (UK), Ghana, Tanzania, and Uganda. His coverage focuses on groundbreaking stories across the East African region with a focus on ICT, Energy, Oil and Gas, Mining, Companies, Capital and Financial markets, and the General Economy.

His body of work has contributed to policy change in private and public companies.

Paul has so far won five continental awards at the Sanlam Group Awards for Excellence in Financial Journalism in Johannesburg, South Africa, and several Uganda national journalism awards for his articles on business and technology at the ACME Awards.

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