The Ministry of Finance, Planning, and Economic Development has mandated banks with transferring Parish Revolving Funds to Parish Development Model (PDM) SACCOs. Following Cabinet directives in March 2022 and July 2023, the Ministry is to disburse these funds through government financial institutions and utilize the WENDI mobile wallet, developed by government banks, for beneficiary disbursement.
As of the current date, approximately Shs 2 trillion has been disbursed to 193,396 beneficiaries. In a letter dated February 7, 2024, Finance Permanent Secretary Ramathan Ggoobi outlined the selection of the WENDI App due to its transparency, convenience, financial inclusivity, and reduced transaction costs.
“The purpose of this letter therefore is to clarify the framework for the use of the WENDI mobile wallet for the disbursement of PDM funds as directed by Cabinet,” wrote Ggoobi, who is also the Secretary to the Treasury.
Consequently, Post Bank, Housing Finance Bank, and Pride Microfinance have been assigned tasks including onboarding PDM SACCOs onto the mobile wallet, ensuring comprehensive training and support for all onboarded SACCOs, and guaranteeing that all PDM loans disbursed through the WENDI mobile wallet are initiated from the Parish Development Management Information Systems (PDMIS). Additionally, these banks are required to establish adequate agent networks and float to facilitate efficient utilization and accessibility for WENDI users.
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