Kampala, Uganda—Two of Uganda’s biggest financial players, the state-owned Pearl Bank and the country’s largest lender, Stanbic Bank, have integrated their digital wallets, Wendi and FlexiPay, in a landmark partnership to cut transaction costs and accelerate financial inclusion across the East African nation.
The move, announced at a joint briefing in Kampala on Oct. 23, 2025, signals a deliberate shift from market competition to collaboration, specifically aimed at making financial services more affordable and accessible to the millions of Ugandans, especially in rural areas, who remain outside the formal economy.
The combined platforms serve more than two million users, offering savings, credit, and e-commerce services.
Mumba Kenneth Kalifungwa, Stanbic Bank Uganda’s chief executive, emphasized the partnership’s immediate benefit to the consumer.
“This partnership is a win for ordinary Ugandans,” Kalifungwa said. “By connecting FlexiPay and Wendi, we are breaking down digital walls and ensuring that no matter where you live or who you bank with, you can transact safely and affordably.”
He added that the collaboration directly supports Stanbic’s focus on financially empowering women, youth, and farmers, a key demographic for the bank’s growth strategy. FlexiPay already allows users to pay merchants and utility bills at zero or low charges.
Julius Kakeeto, managing director and CEO of Pearl Bank (formerly PostBank Uganda), said the integration was timely, noting Wendi’s central role in facilitating government financial programs, such as disbursements under the Parish Development Model.
“Our users will gain greater convenience and access to a wider merchant and agent network,” Kakeeto said, highlighting that Wendi offers a 10 percent annual interest on all user savings, designed to encourage the poor to save.
Uganda’s access to formal financial services has significantly improved, climbing from 52 percent in 2013 to 68 percent in 2023, largely due to mobile money and digital innovation. However, extending these services to remote, rural communities—home to many farmers and small traders—remains a major challenge.
The integration of the two platforms aims to address this gap. FlexiPay has a wide network of more than 17,800 agents and supports hundreds of Savings and Credit Cooperative Organizations (SACCOs). Meanwhile, Wendi’s network of over 8,000 agents has been crucial in easing government payments to thousands of beneficiaries in the countryside.
The integration means users on either side can send, receive, and pay seamlessly, removing the slow, costly barriers that often plague inter-network transactions.
Officials said the partnerhsip will become a powerful catalyst for cashless trade and inclusive economic growth, particularly for women-led enterprises and young entrepreneurs across the country.
