Housing Finance Bank partners Post Bank 7 Pride Microfinance in Enabling Seamless Disbursement of PDM Funds with Wendi Digital Wallet

In a significant stride towards enhancing financial accessibility, Housing Finance Bank has joined hands with PostBank and Pride Microfinance Limited to establish a partnership with Airtel Money Uganda. This collaboration aims to facilitate the effortless distribution of Parish Development Model (PDM) funds by the Government of Uganda via the Wendi mobile wallet platform. This strategic alliance ensures that intended beneficiaries across Uganda can access funds conveniently through Airtel Money’s extensive agency network, with minimal to no associated costs.

With mobile money services embraced by 53% of the population, while only 10% have access to traditional banking, this partnership addresses the pressing need for expanded financial inclusion. It holds the potential to bridge critical gaps and amplify the Government of Uganda’s initiatives to achieve its development objectives.

The launch of this partnership took place at Kakumiro District headquarters and was graced by the Rt. Hon. Prime Minister Nabbanja Robinah, represented by Hon. Kabuye Kyofatogabye, Minister of State for Kampala Capital City and Metropolitan Affairs, alongside the Kakumiro district leadership and leaders of PDM Savings and Credit Cooperative Organizations (SACCOs).

Wendi, powered by PostBank, is a meticulously designed electronic payments platform aimed at narrowing the divide between unbanked Ugandan communities and essential financial services. This comprehensive platform offers features like group savings, digital money transactions, transfers, deposits, and withdrawals, effectively addressing issues raised by beneficiaries about bank charges and risks during the disbursement process. Through Wendi, PDM beneficiaries can now access their funds via the Airtel Money network, bypassing the need for bank processes.

Mr. Julius Kakeeto, CEO of PostBank, expressed gratitude to Airtel Money Uganda for embarking on this transformative journey. He emphasized how Wendi streamlines the PDM disbursement process, stating, “With Wendi, subscribers will receive funds directly to their phones, eliminating the need for a bank account and the associated time and cost of manual disbursements.”

Mr. Micheal Mugabi, Managing Director of Housing Finance Bank, echoed the sentiment of collaboration and the Bank’s commitment to uplifting all Ugandans. He said, “Our mandate is to drive home ownership and financial independence. And that’s why the Bank has devoted significant resources to promote the Wendi mobile wallet solution that enables financial services to reach the majority of Ugandans who currently do not have a bank account.”

Mr. Japhet Aritho, Managing Director of Airtel Money Uganda, affirmed the company’s dedication to Uganda’s financial inclusion agenda, stating, “We aim to address the digital inclusion divide by extending services closer to the people. Airtel Uganda’s vast network of over 200,000 agent points eliminates the need for beneficiaries to travel long distances for accessing or repaying PDM funds.”

Mr. Edward Nkangi, Executive Director of Pride Microfinance Limited, emphasized the transformative impact of the Wendi App. He highlighted, “With Wendi, we do not need to open a branch in Kakumiro as the PDM funds can now seamlessly reach each Ugandan without visiting a bank. We thank the Government for the Parish Development Model in enabling funds to reach every Ugandan.”

In closing, Hon. Kabuye Kyofatogabye, the Minister of State for Kampala Capital City and Metropolitan Affairs, commended PostBank and Airtel Money Uganda for the timely launch of Wendi. He said, “Wendi is a much-needed intervention in support of the government’s Parish Development Program as it allows for easy and convenient access to funds via mobile technology.”

The Minister of State for Kampala Capital City and Metropolitan Affairs also encouraged PDM beneficiaries and the public to capitalize on Wendi’s opportunities by downloading and utilizing the App from Google Play Store and App Store, or via the *229# USSD code.

Beyond its primary purpose, Wendi offers an extensive range of mobile transactions, including paying for utility bills, school fees, subscriptions, goods, and services. With over 3000 Wendi agents spread across the country, customers can conveniently access these services.