Uganda’s digital transformation presents an important opportunity to expand financial inclusion, support enterprise growth and make financial services more accessible. From mobile banking and digital lending to electronic payments and online business platforms, technology is changing how people manage their finances, run businesses and participate in the economy. For small businesses, digital financial services can reduce barriers to accessing credit, improve convenience and create opportunities for growth. But as more people embrace digital platforms, an important question arises: how do we ensure that people can participate in the digital economy with confidence? The answer lies in recognising that innovation and cybersecurity must advance together. Digital progress will only be sustainable when customers trust the systems, institutions and services on which they increasingly depend. The INTERPOL African Cyberthreat Assessment Report 2026 gave a glimpse of the scale and changing nature of this challenge. It found that artificial intelligence was involved in some capacity in 55 per cent of reported cybercrime cases across Africa in 2025. In Uganda, the report highlights a deepfake investment scam that reportedly resulted in losses exceeding $2 million before authorities intervened. This example demonstrates that cyber risks are not confined to individual accounts or personal devices. They can affect businesses, essential services and public confidence in the wider digital economy. For Uganda, this report shows that we do not need to slow digital adoption, but to build trust alongside it; so how then can we do this? Digital trust is becoming an essential part of economic infrastructure. Just as reliable roads enable commerce, secure digital services enable individuals and enterprises to transact with greater confidence. When customers believe their information is protected and their transactions are handled responsibly, they are more likely to embrace new services. This confidence supports financial inclusion, encourages innovation and strengthens participation in the formal economy. My experience across information and cybersecurity, technology risk and IT audit has reinforced my view that digital trust is both a business priority and a governance responsibility. Earlier in my career, leading IT audits and technology assurance assignments, I got a strong appreciation of the link between effective oversight, sound risk management and secure, reliable digital services. The focus was not simply on identifying weaknesses, but on understanding whether technology was working as intended, and ensuring that technology risks including cybersecurity received the right level of attention and action. As a CISO, I see cybersecurity as fundamental to creating and sustaining digital trust. As we introduce AI, cloud, APIs and increasingly interconnected digital services, our responsibility is not simply to secure the technology at launch, but to ensure it remains secure, resilient and worthy of our customers’ trust throughout its lifecycle. This requires continuous visibility of threats and vulnerabilities, clear ownership of cyber risk, and decisive action when weaknesses are identified. Solutions such as dfcu Bank’s Mobi Loans for SMEs and personal banking demonstrate how digital channels can make financial services more accessible and convenient. For entrepreneurs, access to financial services through digital platforms can help address practical business needs. Yet the value of convenience depends on the confidence customers have in the systems delivering it. Innovation must therefore be accompanied by strong safeguards, responsible data management, resilient systems and clear communication. Financial institutions need to assess emerging risks, protect sensitive information, strengthen access controls and prepare to respond effectively when incidents occur. INTERPOL’s findings reinforce the importance of cross-sector and cross-border cooperation as criminal activity becomes more sophisticated. Responsible information sharing, coordinated incident response and stronger public awareness can help institutions identify emerging threats earlier and reduce the harm caused by fraud. Collaboration must also respect privacy, protect customer information and maintain accountability. People remain central to cybersecurity. Even the strongest systems can be undermined when individuals are manipulated into revealing confidential information or using the authorised access they are given to approve transactions they do not fully understand. Criminals increasingly exploit urgency, fear and the promise of quick financial returns. This makes continuous awareness and practical education essential. Employees need the knowledge and confidence to recognise suspicious requests and escalate concerns. Customers need straightforward guidance on protecting personal information, verifying unusual instructions and reporting suspected fraud. Businesses should establish clear procedures for authorising payments and confirming changes to supplier or beneficiary details. Ultimately, cybersecurity is not merely a technology function; it is a business and economic priority. Uganda’s digital future will depend on institutions that combine innovation with accountability, resilience and customer care. At dfcu Bank, we believe that building a trusted digital economy requires a shared commitment from institutions, businesses, government and individuals. By embedding security into innovation, strengthening oversight, investing in people and building effective partnerships, we can help ensure that digital progress translates into sustainable opportunity for Ugandans. The writer is a Chief Information Security Officer, dfcu BankThe post Cybersecurity: Building trust in Uganda’s digital economy appeared first on The Observer Media Ltd.