Members of the Uganda Bankers’ Association (UBA) held their annual general meeting on the 17th May 2024 and elected Mr. Julius Kakeeto, as the Association’s new Chairman. He replaces Ms. Sarah Arapta whose two-year term of office (2021 & 2023) has elapsed. Mr. Kakeeto is the Chief Executive Officer of Post Bank Uganda and has been serving as the Vice Chairperson for two years (2021 & 2023) Other members elected on the Executive Committee of UBA are Michael Mugabi, the CEO of Housing Finance Bank as the Vice Chairman; Edgar Byamah, the CEO of KCB Bank, as the Treasurer and…
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The government of Uganda has released more money towards its household poverty alleviation initiative, the Parish Development Model (PDM). This was confirmed by PostBank Uganda, the gov’t distribution partner of the cash to the final recipients through its mobile wallet platform, Wendi. The amount totalling up to UGX 267 Billion was disbursed among 5,322 government-identified and vetted SACCOs country-wide with each earmarked to receive UGX50M. “We received the latest batch of money from the government on Tuesday, 09th April, to distribute to over 5,000 SACCOs around the country covering over 100 districts. We completed the disbursement to all the SACCOs…
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Two years, after being granted a tier one commercial banking license in December 2021, assets of the government-owned PostBank Uganda (PBU) in 2023 crossed the UGX1 trillion mark, reaching a record UGX1.071 trillion. Results released this week, show that total assets grew by 14% from UGX943 billion to reach UGX1.071 trillion, a growth of UGX128 billion. This, according to Julius Kakeeto, the bank’s Managing Director / CEO, was on the back of double-digit growth and “above-industry-average growth rates” in deposits, lending and subsequently income and net profits. Lending grew by 26% from UGX480 billion in 2022 to UGX603 billion, a…
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Housing Finance Bank has recruited Seva Mendera Wamara as its Marketing Manager, effective 1st March 2024. Seva is a marketing communications professional with over 5 years of experience. She describes herself as “passionate about cultivating marketing strategies that build strong brands and contribute towards business growth”. Her key skills include corporate communications, marketing strategy development, content creation, project management, market research and data analysis. Seva has previously been the Marketing and Communications Project Manager for Wendi – PostBank’s mobile wallet. She played a pivotal role in the development and rollout of Wendi, a robust e-money platform that is a centrepiece…
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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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The HR Reveal Awards, popular for shining a light on best HR practice have recognized Julius Kakeeto as a trailblazer in driving a people-centric approach to leadership within the banking sector. Kakeeto was awarded the Best People-Focused MD of the year. This accolade is not only a personal triumph for him but also a celebration of the entire PostBank fraternity, highlighting the bank’s commitment to nurturing a workforce that is engaged, motivated,and empowered. Since joining PostBank in 2019, Mr Kakeeto has orchestrated a remarkable transformation, propelling the institution to Tier One status through strategic initiatives. Under his leadership, the bank…
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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 Uganda has appointed Doreen Asaasira Muhangazi as its Chief Human Resource Officer. Her appointment took effect, February 2023. Doreen joins PostBank from Sanlam Life Insurance (Sanlam Group) where she has been the Regional Human Resource Executive, based in Nairobi, Kenya. Doreen launched her people-shepherding career at the Office of the President in Uganda as an HR Assistant. She then went on to work with Centum Investment Company Limited in Kenya as a Senior HR Business Partner for five (5) years before joining Sanlam, first as Head Of Human Resources at Sanlam Life Insurance(U) Limited. She later moved to Nairobi…
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