In 2019, Peter Kawumi, the Regional Managing Director - East Africa at Interswitch Group, became the Chairperson of the Board of Directors of the Financial Technology Service Providers' Association (FITSPA). He played a significant role in the association's growth during his tenure, particularly in regulation, investment, and partnerships.
One of his most notable achievements was spearheading the lobbying for the National Payment Systems Bill, successfully enacted into law in 2020. This regulation provides oversight for the Fintech sector in Uganda, ensuring safety and effectiveness in payment systems operations while setting standards for payment services.
Under Peter's leadership, FITSPA developed a robust and self-sustaining ecosystem of members and partners in the public and private sectors, growing its membership base from 7 founding members to 189 active members. The membership now includes essential and diverse ecosystem players like banks, law firms, and software development partners who support Fintechs. He also established strong partnerships with key stakeholders such as the Uganda Bankers' Association, the Uganda Institute of Banking and Financial Services, and the Bank of Uganda. Additionally, he strengthened existing ties with partners like Financial Sector Deepening Uganda. These partnerships widened the scope of FITSPA's engagement and created more learning and growth opportunities for the association and its members.
During his tenure, FITSPA also attracted monetary and non-monetary investments, including a research and development project on the state of Uganda's Fintech ecosystem commissioned by FITSPA and sponsored by aBi Finance and conducted by Deloitte. This allowed FITSPA, its members, and partners to proceed with clarity as it collectively identified pain points in the industry.
After serving as Chairperson, Peter continued to support FITSPA as a Board Director and played an instrumental role in setting up the Technology and Innovation Committee. This committee is mandated to provide oversight and guidance of the Technology, Innovation, and Cybersecurity needs of the secretariat and FITSPA members.
The FITSPA board and secretariat are grateful for Peter's contributions to the association and ecosystem over the years. Thanks to his leadership and dedication, FITSPA is poised for continued growth and success, and his continued involvement in the ecosystem will surely be an asset for years to come.