Uganda's financial sector is continuing to grapple with cyber attacks, according to technology experts.
As financial institutions increasingly adopt new technologies, cybercriminals are exploiting these advancements, creating an urgent need for robust cyber security measures to protect the sector and its customers.
In response to these growing threats, Next Media launched the state of the digital economy conference, set to take place Friday, July, 26, 2024.
This event aims to foster candid conversations on the digital economy and explore how Uganda can leverage it effectively.
The conference is expected to bring together technology and digital experts to discuss the future of the digital landscape in Uganda.
Next Media, known for its innovation, emphasizes that Uganda's young population positions the country advantageously in the digital era.
The youths are not only tech-savvy but also highly adaptable to technological changes, dispelling fears that the digital economy will lead to unemployment.
Instead, the advantages of embracing the digital economy are enormous, including job creation and enhanced economic opportunities.
Joe Kigozi, the Deputy CEO of Next Media, highlighted the importance of digital discussions and urged everyone to embrace the digital economy while ensuring robust digital security.
"Infrastructure and policy are critical components of the digital economy" Kigozi stated.
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Ibrahim Bbosa, the Assistant Commissioner for Public Affairs at the Uganda Revenue Authority (URA), echoed these sentiments.
Bbosa noted that digital advancements have significantly improved tax collection and streamlined numerous online processes, helping to combat issues such as under-declaration and manipulation.
He emphasized the importance of engaging the public to accept and love technology.
"Every time there is new opportunities, there is an opportunity for tax collection, so that is the space that we are so interested in as tax collectors" Bbosa noted.
The state of the digital economy conference is scheduled for next week Friday and promises to be a pivotal event in shaping Uganda's digital future.
With the country rapidly occupying the digital space, the conference aims to address critical issues such as cyber security, infrastructure, and policy to ensure a secure and prosperous digital economy.
As Uganda continues to grow its digital presence at a remarkable pace, the focus on cyber security and digital infrastructure will be essential in safeguarding the nation's economic and technological advancements.
