Western Union and PostBank Uganda today announce the launch of international money transfers in the Wendi mobile wallet. The co-branded digital service will empower customers in Uganda to send and receive funds globally. Wendi is PostBank Uganda’s innovative digital wallet that enables customers to efficiently manage and transact funds directly from their smartphones and feature phones. Customers can now receive money from their loved ones into the wallet seamlessly through Western Union’s vast global network, which spans over 200 countries and territories. They also have the flexibility to send funds to bank accounts and mobile wallets worldwide, as well as…
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PostBank is aTier 1 fully fledged digital commercial bank at the heart of Uganda’s economic growth by economically transforming the lives of millions of Ugandans and businesses, in partnership with the government. To oversee the bank’s transformation and deliver on the new promise, PostBank’s Managing Director Julius Kakeeto, attracted several financial services experts across different levels. These experts have been at the forefront of revolutionising the bank’s operations and success, transforming the bank into an admirable, award-winning financial services brand. Kakeeto believes banking is a service of immense skill. “You must have the right skill set, and you must have…
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The Uganda Microfinance Regulatory Authority (UMRA) and PostBank Uganda have signed a Memorandum of Understanding (MoU) to initiate a collaboration aimed at digitizing the operations of Tier IV Microfinance Institutions through PostBank’s Wendi mobile wallet, so that the last mile beneficiary can actively participate in socio-economic ventures that will improve their livelihood. Being at the helm of regulating the operation of microfinance institutions, UMRA’s collaboration with Wendi mobile wallet is a key milestone in enhancing financial inclusion through streamlining the operation of Savings and Credit Cooperatives (SACCOs), Village Savings and Loan Associations (VSLAs), Self-Help Groups, and Non-Deposit Taking Microfinance Institutions…
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The future of financial inclusion in this country and across the world will depend squarely on how efficiently and effectively the financial industry collects data from the millions of people who need financial services. In the last year, we at PostBank have had the honour of supporting the government’s disbursement of money for the Parish Development Model (PDM). We have disbursed about UGX 600 billion via our Wendi mobile wallet platform and are on track to disburse one trillion shillings by the end of the financial year. That is all very well, and these funds have assisted thousands of families…
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In one of his very first media interviews, Julius Kakeeto, the transformational PostBank Uganda (PBU) Chief Executive Officer, told CEO East Africa Magazine that his mid-term agenda was to transform the government-owned financial institution into a “tier 1 fully fledged digital commercial bank at the heart of the country’s economic growth”. Digitalisation, according to Kakeeto was the fastest and the most affordable and efficient way the bank could achieve its mission to offer affordable financial services that drive financial inclusion to many of Uganda’s unserved population, with a major focus on agriculture and Micro, Small and Medium-sized enterprises. “It is…
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In just four months after its launch, PostBank Uganda’s digital wallet, Wendi has hit a record UGX200 billion in payments to over 200,000 Parish Development Model (PDM) beneficiaries countrywide. According to statistics released by the company, this record has been facilitated by Wendi’s robust network of PostBank payment platforms as well as those of its bank partners and mobile money companies. “Since its launch in November 2023, Wendi has onboarded more than 430,000 subscribers and over 2,000 agents countrywide. These agents are complemented by the numerous touchpoints of our partners; MTN Uganda and Airtel Uganda, who have over 250,000 agents…
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Housing Finance Bank has joined PostBank and Pride Microfinance Limited to unveil a partnership with Airtel Money Uganda that will facilitate seamless disbursement of Parish Development Model (PDM) funds by the Government of Uganda through the Wendi mobile wallet platform.This partnership guarantees convenient access to funds for intended beneficiaries across Uganda through Airtel Money’s extensive agency network at minimal to no cost. With 53% of the population embracing mobile money services while only 10% have access to traditional banking, this collaboration resolves the need for heightened financial inclusion. It holds the potential to bridge critical gaps and amplify the Government…
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PostBank Uganda, in partnership with MTN Uganda, has launched “Wendi,” an innovative mobile wallet platform designed to support the government of Uganda in the seamless disbursement of PDM (Parish Development Model) funds. Wendi is an electronic payments platform powered by PostBank that strategically pivots on group savings and funds management, digital money savings, transfers, deposits, and withdrawals, to drive financial inclusion within unbanked Ugandan communities. The news comes, a few days after the bank was granted a licence by the Bank of Uganda under the National Payment Systems Act, 2020 to provide Payment Service – Class A, specifically as a…
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PostBank on Tuesday announced its financial results reporting a 19% increase in net profit for the year ended December 31st, 2022. The state-owned bank reported that net profit reached UGX 15.1 billion, up from the UGX 12.2 billion reported in 2021. PostBank’s total assets grew significantly, by 21.3% from UGX 745 billion in 2021 to UGX 946. 6 billion in 2022, which is almost 1 trillion. The bank’s total income also increased from UGX 144.5 billion in 2021 to UGX 159.2 billion in 2022. Andrew Otengo Owiny, the Board Chairman of PostBank, expressed his satisfaction with the bank’s performance, noting…
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The CEO Summit Uganda, together with the SDG Secretariat at the Office of the Prime Minister in Uganda will this Wednesday 7th December 2022 host the 13th Edition of the Annual CEO Forum at the Méstil Hotel & Residences Kampala, starting at 08 am. The 2022 CEO Forum is being held under the theme: “Beyond Sustainability – Strategic Choices that Matter”. This is the first time the CEO Forum is being held physically since 2019. The 2020 and 2021 editions were held virtually. The Sustainable Development Goals (SDGs) are a series of 17 goals adopted by the United Nations that…
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