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UMRA, PostBank collaborate to digitize SACCOs using Wendi mobile wallet 

Andrew Kabeera PostBank’s Executive Director ( L) and Executive Director of UMRA, Edith Tusuubira (R) exchanging the Memorandum of Understanding (MoU) to initiate a collaboration between UMRA and Postbank through its Wendi mobile wallet aimed at digitising 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. The event was held at UMRA Offices today 21st October 2024.

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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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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