Uganda’s ambition to grow its economy to $500 billion by 2040 will depend partly on whether investments in information and communication technology translate into higher productivity, wider market access and lower costs for businesses, ICT leaders have said.
At a strategic meeting between the Ministry of Finance and the CIO-CxO Digital Leadership Forum, participants called for a shift from measuring digital transformation by the systems and infrastructure deployed to assessing the economic value those investments generate.
They argued that technology could help businesses reach new markets, improve efficiency, support research and enable government to make better-informed economic decisions.
Gideon Nkurunungi, Executive Secretary of the CIO-CxO Digital Leadership Forum, said technology should be treated as a strategic tool for economic transformation, rather than merely a means of automating existing processes.
George Ouma, Senior Manager for IT Projects at the National Social Security Fund (NSSF), said digital solutions could improve connectivity, reduce bureaucracy and help businesses understand markets, ultimately lowering operating costs and raising productivity.
However, Uganda’s digital transformation faces several challenges, including reliance on imported technologies and digital solutions.
Industry representatives also raised concerns about the cost of digital payments and transactions, warning that high charges could discourage adoption and limit the benefits of digital services, particularly for small businesses and individuals with limited incomes.
Representatives from MTN Mobile Money and the Indian Association of Uganda highlighted barriers affecting the wider uptake of digital services and the growth of technology-driven businesses.
Government, meanwhile, says it is investing in infrastructure to support digital transformation, including rural electrification, last-mile internet connectivity and interoperability systems intended to improve the integration and digitisation of public institutions.
Joseph Enyimu, Commissioner for Economic Development Policy at the Ministry of Finance, said the investments were part of efforts to strengthen the digital infrastructure needed to support economic activity and improve public service delivery.
Yet, expanding digital services remains difficult in an economy where cash continues to dominate many transactions, particularly within the informal sector, and access to conventional banking remains uneven.
The draft cites the 2024/25 Uganda National Household Survey as reporting that only about 8% of Ugandans aged 15 and above had an active bank account in their own name.
The figure should be read separately from broader financial inclusion, since mobile money enables many Ugandans to access digital financial services without holding a conventional bank account.
As Uganda pursues its economic target, ICT leaders say the impact of digital investment will ultimately depend on whether services become more affordable, local technology capacity grows and businesses across different sectors become more productive.
Without addressing the barriers to adoption, they warn, the country risks expanding its digital infrastructure without fully realising its potential to generate economic value.