A significant development in Uganda’s financial technology sector was announced on October 23, 2025, aimed at improving financial inclusion.
The Partnership
Pearl Bank Uganda (formerly PostBank Uganda), a government-owned financial institution, partnered with Stanbic Bank Uganda, the country’s largest commercial bank.
The banks were integrating their respective digital wallets: Wendi (Pearl Bank) and FlexiPay (Stanbic Bank).
The goal was to enable seamless cross-platform transactions between the two digital wallets at significantly reduced fees, making digital financial services more affordable and accessible. The collaboration was seen as a key step toward achieving the goals of Uganda’s National Financial Inclusion Strategy (2023–2028).
Impact and Reach
- Combined User Base:
The two platforms collectively serve over one million users and offer savings, credit, and e-commerce services.
- Expanded Networks:
- FlexiPay boasts a network of over 17,800 agents and supports hundreds of SACCOs in operating digitally.
- Wendi has been crucial in facilitating government disbursements under the Parish Development Model (PDM), extending services to rural communities, and allows users to receive Western Union international remittances directly into their wallets.
- Customer Benefit:
The integration will allow users of either wallet to send, receive, and make payments to the other platform seamlessly, removing the friction, delays, and costs typically associated with interoperability between different financial service providers.
