Working with digital financial service providers essential in increasing financial inclusion – Michael K. Mugabi

In a landscape where digital financial services are embraced by more than half of the population, while traditional banking remains accessible to a mere 10%, the imperative for fostering collaboration with digital financial service providers becomes clear. This was the key message put across by Housing Finance Bank’s Managing Director  Michael K. Mugabi as the bank joined forces with Post Bank and Airtel Money to support the seamless disbursement of Parish Development Funds.

This strategic partnership is poised to magnify financial inclusion endeavors across Uganda, ensuring that all individuals have the opportunity to engage in the economic ecosystem.

The significance of this collaborative effort was underscored as they launched an innovative initiative known as the #WendiDigitalWallet. This forward-looking endeavor provides an opportunity to revolutionize the economic landscape of the nation.

This dynamic collaboration holds promise for numerous transformative outcomes. As the implementation of the Parish Development Model gains momentum, this synergy holds the potential to unlock the promises of wealth creation, job opportunities, and heightened household incomes. This endeavor is emblematic of the collective commitment to effecting tangible positive change.

Furthermore, the collaborative effort reflects the ongoing digital transformation strategy championed by Housing Finance Bank. The goal is to extend pivotal and affordable financial services to previously marginalized segments of the population. This move, epitomized by the partnership with Airtel Money Uganda, envisions providing avenues for individuals who have long remained excluded to seamlessly access their funds through the extensive Airtel Money Uganda agent network.

Such endeavors don’t just signify isolated actions; they mark a holistic pledge to persistently collaborate with stakeholders. This commitment echoes the Bank’s unwavering dedication to propelling national financial inclusion pursuits. These initiatives resonate harmoniously with the Bank’s core purpose of enabling sustainable homeownership and fostering financial independence among Uganda’s diverse populace.

As the partnership unfolds, it embodies a narrative of synergy, progress, and empowerment. The drive toward financial inclusion is not merely a goal; it’s a transformative journey that requires collective determination. Through collaborations like the Wendi Digital Wallet initiative, Uganda takes a collective step forward, uniting financial institutions, service providers, and communities in the pursuit of an economically empowered future for all.