and the number of mobile money transactions during the last quarter of 2020 for the first time ever crossed the 1 billion transactions mark. In many African countries however, Uganda included, mobile-data baskets are still out of reach for a large part of the population, costing more than 10 per cent of Gross National Income per capita, in situations where incomes are already limited. In terms of affordability of fixed services, Africa is the region with the highest fixed-broadband basket prices and Uganda is no exception [4]. Figure 3. The use of mobile money (* up to September 2020) [1]. The private sector in Uganda is dominated by about 1.1 million micro, small and medium enterprises (MSMEs) all together employing approximately 2.5 million people. The Uganda Vision 2040 aspires directly investing in strategic areas to stimulate the economy and facilitate private sector growth and targets increasing the growth of MSMEs to drive industrialization. National Development Plan recognizes the need to support the private sector, particularly local MSMEs, to develop capacity to drive the industrialization effort, increase exports, create jobs and increase local content. In the strategic ICT sector, SMEs can be supported through the system of incubation centres to develop their digital and financial literacy, and through supportive research and innovation facilities established and accessible to MSMEs. The 2018 After Access Survey shows that Internet use, mobile phone penetration, and the Internet use divisions between genders as well as urban and rural dwellers are correlated with Gross National Income (GNI) per capita. Uganda is classified as one of the least developed countries – a list of developing countries that, according to the UN, possess the lowest indicators of socioeconomic development and the lowest Human Development Index ratings among all countries in the world. The lack of electricity and underdeveloped ICT infrastructure are the primary causes of discrepancies in urban–rural Internet use and mobile phone penetration rates in Uganda. Uganda has a considerable urban–rural gap in Internet use of 70 percent, where only nine percent of Ugandans living in rural areas have access to the Internet and about a third (30%) of urban area dwellers using it [5]. Several studies demonstrate that broadband penetration and broadband quality are important factors for economic growth. According to a World Bank study, it is estimated that for every 10% increase in broadband penetration in low and middle income countries result in a commensurate increase of 1.38% of the GDP [6]. Studies also reveal the economic impact of broadband deployment directly through jobs created by deploying broadband infrastructure, and indirectly as a result of ‘spill- over’ externalities, such as increased productivity and new products and services i.e. through accelerated innovation. 2.3 Cyber Crime Cybersecurity continues to be a challenge in Uganda and the share of cyber (computer) crimes in total economic crimes is on the rise. In 2020 the cybercrime report of the Uganda Police acknowledges the relative increase in cases of cybercrimes related cases and they led to a loss of UGX 15,949,236,000 in 2020. The major categories of cybercrimes were electronic fraud and obtaining money by false pretense. [7] 12 (43) [Draft Version for stakeholder consultation]