A new chapter in Uganda’s digital finance landscape is quietly unfolding as Stanbic’s FlexiPay and Pearl Bank’s (formerly PostBank) Wendi Wallet join forces to create one of the country’s most powerful interoperable payment ecosystems.
Together, the two will drive over UGX 6 trillion in annual digital transactions, merging liquidity, inclusion, and innovation into a seamless financial network that connects over 1.5 million Ugandans.
Fillings contained in the two banks’ 2024 financial reports tell of a partnership that could shape a new revolution in Uganda’s e-money ecosystem.
Yet it introduces a new chapter of partnerships that will likely reshape how financial institutions work in Uganda’s pursuit of achieving a cashless economy.
FlexiPay anchors Stanbic’s e-money dominance with a UGX 4.155 trillion float, 80% of which is invested in Treasury Bills, reflecting both regulatory compliance and strong balance-sheet stability.
The liquidity position places FlexiPay as Uganda’s largest digital value pool under the National Payment Systems Act.
On the other hand, the Wendi Wallet, managed by Pearl Bank, brings inclusivity and scale to the partnership.
In 2024, it processed UGX 1.8 trillion in transactions across 11.8 million payment events, supported by a UGX 62 billion float and a 5,900-agent network that reaches deep into rural and underserved areas.
Combined, the two platforms link institutional capital with community finance, transforming liquidity into livelihoods.
A reliable machine
FlexiPay boasts 99% uptime and a track record of cutting digital service complaints by half year-on-year, making it Uganda’s most dependable e-platform.
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The result is a more resilient and reliable network connecting over 1.5 million users.
Beyond payments, the partnership supports SACCOs, VSLAs, and PDM groups, enabling collective savings, digital lending, and efficient disbursements across both platforms.
It gives farmers, traders, and youth the ability to transact securely, bridging formal banking and grassroots finance.
A new milestone in financial inclusion
Together, FlexiPay and Wendi represent a unified digital value chain worth UGX 6 trillion, aligning with Uganda’s Vision 2040 and National Financial Inclusion Strategy (2023–2028).
Their combined impact reinforces the shift from isolated digital platforms to a national ecosystem that keeps money liquid, traceable, and accessible to all.
“This partnership is not about competition; it’s about connection, building a digital economy where every Ugandan can belong,” said Mumba Kalifungwa, the Stanbic chief executive at the launch early this week.
The partnership presents a clear picture: FlexiPay contributes the financial power and stability, while Wendi delivers the reach and human connection.
Together, they are redefining Uganda’s financial future, one transaction, one community, and one digital bridge at a time.
