The East African Community (EAC) is accelerating its journey toward deeper regional economic integration by embracing financial technology (FinTech) as a transformative driver. At the Peer-to-Peer Conference 2025 held in Kampala, regional policymakers, private sector leaders, and stakeholders convened to explore strategies for strengthening digital financial systems across member states.
The forum emphasized the urgent need to harmonize regulatory frameworks, invest in robust digital infrastructure, and improve interoperability among financial platforms to unlock FinTech’s full potential. Adrian Njau, Acting Executive Director of the East African Business Council (EABC), highlighted that integrated financial services are vital for boosting intra-regional trade, promoting sustainable development, and enhancing socio-economic well-being.
Uganda’s Minister of State for Finance, Henry Musasizi, noted that East Africa leads globally in mobile money innovation, with over 36 billion transactions valued at more than USD 200 million in 2023. Uganda alone has over 25 million registered mobile money accounts, representing more than half its population. Digital financial tools such as mobile payments and digital credit are empowering SMEs, youth, and women to participate in trade and economic activity.
However, challenges persist, including fragmented regulations, weak infrastructure, and limited uptake of regional payment systems like the East African Payment System (EAPS) and the Pan-African Payment and Settlement System (PAPSS). Njau called for harmonized policies and shared digital infrastructure to overcome these barriers. Musasizi emphasized the importance of inclusive financial systems and cited Uganda’s National Payment Systems Act as a model for addressing interoperability and regulatory gaps.
Annette Mutaawe Ssemuwemba, EAC Deputy Secretary General, reaffirmed the bloc’s commitment to digital financial integration, noting that services contribute over 50% of GDP across partner states. She announced ongoing redevelopment of the EAC payment systems framework, testing of new solutions, and efforts to enhance cybersecurity and cross-border data exchange.
Regional success stories—Kenya’s M-PESA, Rwanda’s $50 million FinTech fund, and Uganda’s mobile money penetration—demonstrate the power of innovation supported by agile policy environments. Ssemuwemba stressed that coordinated regional strategies are essential to convert these innovations into inclusive economic transformation, positioning the EAC as a competitive and digitally empowered economic block.
