By Editorial,
In a landmark partnership that signals collaboration over competition, Pearl Bank Uganda (formerly Postbank Uganda), a leading government-owned financial institution and Stanbic Bank Uganda, the country’s largest commercial bank, have announced the integration of their digital wallets Wendi and Flexi Pay.
Collectively, both platforms serve over a million users offering both saving, credit, and e-commerce transaction services.
This strategic move will allow users of both platforms to transact seamlessly and at significantly subsidised fees, a major step towards making financial services more affordable and accessible to millions of Ugandans.
The announcement was made at a joint press briefing in Kampala, where the two banks highlighted how the partnership will support Uganda’s ongoing financial inclusion and digital transformation agenda, according to Julius Kakeeto, Managing Director & CEO, Pearl Bank Uganda.
Mr. Kakeeto speaking;…
Wendi was designed to ensure that Ugandans are included in the money economy and can transact and save while earning a 10% interest per annum on all their savings. Therefore, this collaboration is a big step towards achieving Uganda’s National-Financial-Inclusion-Strategy-2023-2028. End