How Wendi provides many lessons for Uganda’s financial sector

What the report says

In an August 28, 2026 commentary for The Independent Uganda, Abdallah Aziz Epalat, described as manager of SACCOs at Pearl Bank, argued that Uganda’s financial inclusion challenge is less about digital tools alone and more about trust, behaviour and productivity. The piece uses experience with Wendi, Pearl Bank’s digital wallet, alongside SACCOs, savings groups, farmers and small traders to explain how formal financial services are being received outside conventional banking.

Epalat says community savings systems have long helped people save, but they can also be vulnerable to weak records, disputes and governance problems when funds are controlled by a few individuals. He suggests that digital platforms add value when they strengthen accountability, clarify ownership and make saving easier and safer, rather than simply turning cash transactions into electronic ones. He also argues that the real cost of banking for rural users includes transport, time away from work and paperwork, not only fees.

The commentary highlights another theme: many savings groups distribute most of their money at the end of a cycle, which helps members meet immediate needs but can leave them starting over each year. Epalat says Uganda would benefit more if such groups gradually built lasting capital and productive assets. He also stresses that financial literacy, mobile connectivity and access to government programmes should be treated as part of the same economic infrastructure.

The broader point, as presented by The Independent, is that financial sector success should be measured not just by customer numbers or transaction volumes, but by whether households, farmers and traders become more resilient and economically productive.