The Internet shutdown that started on January 13 has caused huge losses as businesses, government agencies, organisations and web-based operations such as e-tax payments were disrupted for five days.
The State action has been described as inconsiderate due to the modern ways of conducting business through e-commerce.
On the eve of the election, government shut down Internet citing security reasons during the elections for President and Members of Parliament.
The banking and telecom sectors admit their operations were disrupted but most players in various sectors remained tight-lipped on the details of the impact .
“It is still very early. We cannot compute that,” Airtel Uganda Communications Manager Sumin Namaganda said.
Dfcu Bank’s managing director Matthias Katamba said: “We will compile the impact now that we are back in office. The Internet is back and ATMs were working at the weekend. We will be able to tell full extent in time.”
The executive director of Uganda Bankers Association, Mr Wilbrod Owor, could not quantify the impact of the shutdown, saying it will require an audit. Daily Monitor learnt that besides low activity in the banking sector, there is fear of banks losing money at the hand of cyber fraudsters.
Shutting down of the Internet affected payment systems, Real Time Gross transfers and Electronic File Transfers for the large transfers. This is in addition to the 13,000 bank agents who conduct money transfers, Internet banking and the Automatic Teller Machines.