Gov’t releases Shs 267B more for PDM

Government has injected more capital into its fight against household poverty through the Parish Development Model (PDM) initiative.

PostBank Uganda, the government's chosen partner for cash distribution, confirmed receipt of a hefty UGX 267 Billion intended for final beneficiaries.

This sum was distributed amongst 5,322 pre-identified and vetted SACCOs (Savings and Credit Cooperatives) across the country. Each SACCO received a UGX 50 million allocation to empower local communities.

"The latest batch of funds arrived from the government on Tuesday, April 9th," explained PostBank's Head of Agency Banking, George William Kiyingi.

"Our responsibility was to distribute them swiftly to over 5,000 SACCOs covering more than 100 districts nationwide. We successfully completed the disbursement process the very next day, April 10th, 2024."

Kiyingi emphasized the crucial role played by the Wendi mobile wallet platform in achieving such a rapid and efficient nationwide distribution.

"The allocated funds have already been deposited directly into the Wendi accounts established for the respective SACCOs," he elaborated. "The next step involves the SACCOs informing the bank of their authorized approvers, as documented with the Registrar of Cooperatives."

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The selection of PostBank as the PDM cash distribution partner wasn't arbitrary. Traditional brick-and-mortar bank branches presented logistical challenges for widespread disbursement. Recognizing this, PostBank developed the innovative Wendi platform to promote financial inclusion throughout the country. Since its launch, Wendi has enrolled over half a million beneficiaries and facilitated transactions exceeding UGX 200 billion. Notably, the platform serves more than 5,000 SACCOs participating in the government's PDM program.

Recently,Wendi was instrumental in disbursing relocation funds for families residing in Uganda's Elgon sub-region, a high-risk zone for landslides.

The exercise, launched last week by Prime Minister Robinah Nabbanja in Bududa, involved disbursing a total of UGX 2.76 billion to 276 households.

Each family received UGX 10 million, with the entire payment process taking a mere five minutes from initiation to successful delivery.

Mr. Kiyingi reiterated PostBank's unwavering commitment to improving the lives of Ugandans. This dedication is reflected in the bank's focus on supporting micro, small, and medium-sized enterprises (MSMEs), particularly those operating within the agricultural sector.