Romeo Bugyei is the visionary Managing Director of IT Consortium LTD, one of the pioneering Fintech companies in Ghana. With over two decades of executive leadership experience in consulting, insurance, and technology, Romeo has significantly impacted the industry. He has advanced IT Consortium to a leading position among Financial Services Technology Providers licensed by the Central Bank of Ghana.
Romeo is recognised for his approachable nature, which makes him accessible to his team and fosters an open, communicative workplace culture. He is ethical, and he prioritises integrity over financial gain. This solidifies his reputation as a leader who values moral principles alongside business success. This combination of visionary foresight, transformative action, approachability, and ethical integrity defines Romeo Bugyei’s respected leadership style in the FinTech sector.
Romeo’s career in technology and finance started nearly three decades ago. Before leading IT Consortium, he was the Head of the Information Systems Department at SIC Insurance Company Ltd.
He had also previously played a crucial role as Group Manager for Software and Communication at Deloitte Consulting. His expertise in leadership and vision in technology played key roles in the growth and transformation of these entities.
Romeo Bugyei – CEO, IT Consortium
From Corporate Stability to Startup Success: The Risky Journey of Romeo and the Transformation of IT Consortium
From Corporate Stability to Startup Success: The Risky Journey of Romeo and the Transformation of IT ConsortiumRomeo took a significant risk by leaving the stability of the corporate sector to dive into the unpredictable startup world, focusing his energies exclusively on IT Consortium. His commitment led to a complete overhaul of the company. He utilised the company’s existing partnerships with educational institutions to introduce school fee payments as a service through banks. This innovation laid the groundwork for additional payment solutions, like utility bill payments, and led to the adoption of their new flagship product, “TransFlow,” by multiple banks.
Seizing Opportunity: Romeo’s Strategic Expansion into the Mobile Money Sector with IT Consortium
Romeo recognised the future potential and swiftly extended these services to the then-emerging mobile money sector, starting with integrations and bill payment services for MTN Mobile Money to establish their value. Initially, these services were provided for free as all parties agreed to absorb their respective risks. At that time, foreseeing the acceptance of financial services on Mobile Money was challenging. However, this approach enabled ITC to develop multiple solutions quickly. Ultimately, this became a successful strategy for the company as the services gained widespread adoption.
Romeo’s involvement in the mobile money sector significantly influenced its development, transforming perceptions of mobile money from a simple cash transfer service to a comprehensive tool for engaging in financial transactions, including bill payments, pension contributions, insurance premium payments, and general financial services. Beyond Ghana, Romeo has established ITC in other African countries. ITC is a strong player in Liberia, Rwanda and Kenya. He has set up the rails to terminate inbound remittances to mobile wallets and bank accounts across the sub-region. Championing Change and Advocating for Inclusion Romeo is a leading advocate for transformation and inclusivity in the FinTech arena.
