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As digitalization is on the increase, deposit money banks are faced with heightened exposure to cyber threats, which pose significant risks to their financial performance and operational stability. This study investigated how cybersecurity investment and cyber insurance affected the profitability of deposit money banks, to know whether preemptive cybersecurity management strategies and transfer of risk through insurance influence financial results in the banking sector. The results revealed that both cybersecurity investment and cyber insurance have significant positive effects on bank profitability, with coefficients of 7.832 (p < 0.01) and 17.08 (p < 0.05), respectively. The study also revealed that cybersecurity investment provides more accurate estimates than cyber insurance which is reflected in its narrower confidence intervals. The results emphasize the strategic role of cybersecurity investment and insurance to improve financial flexibility, reduce operational risk, and support enduring profitability. It concluded that banks that prioritize these strategies will not only mitigate possible losses from cyber incidents but also gain a competitive advantage through strengthened customer trust and operational efficiency. The study recommended that Nigerian deposit money banks should treat cyber insurance as a vital component of cyber risk management strategies. It is also recommended that bank management should treat cybersecurity expenditure as value-adding investments rather than operational costs.

Cybersecurity is an urgent concern for small and medium enterprises (SMEs) in Uganda, driven by the rapid digital transformation of businesses and increasing dependence on online platforms. This study explores Ugandan SMEs' cybersecurity challenges, highlighting prevalent cyber threats, risk exposure, and a cyber maturity typology to mitigate cybercrime effectively. Using a qualitative, descriptive research design based on secondary data and a literature review, the study examines how Digital, Blended, and Traditional Business Models influence SMEs' cybersecurity preparedness. A key contribution of this research is the development of a context-sensitive typology of SME cyber maturity, which categorises businesses as Traditional, Transitioning, Digitally Enabled, and Digitally Mature, aligned with the National Institute of Standards and Technology (NIST) Cybersecurity Framework but adapted to Uganda's unique environment. The study identifies ongoing issues such as data breaches, financial fraud, and weak digital infrastructure, as well as gaps in policy enforcement and the disconnect between cybersecurity regulations and SME operators' literacy levels, as key cybersecurity threats. Informal responses to cybercrime, including vigilante actions, are also highlighted. This study provides a maturity typology for SMEs that guides policymakers and business owners in improving cybersecurity practices in Ugandan SMEs. The study calls for multi-stakeholder collaboration, stronger regulatory enforcement, and scalable awareness programs to build a more resilient SME sector. Overall, this study contributes to the discourse on SME cybersecurity by proposing literacy-sensitive interventions tailored to the needs of Uganda and offering a foundation for future research into the effectiveness of Uganda's cybersecurity frameworks.

As digitalization is on the increase, deposit money banks are faced with heightened exposure to cyber threats, which pose significant risks to their financial performance and operational stability. This study investigated how cybersecurity investment and cyber insurance affected the profitability of deposit money banks, to know whether preemptive cybersecurity management strategies and transfer of risk through insurance influence financial results in the banking sector. The results revealed that both cybersecurity investment and cyber insurance have significant positive effects on bank profitability, with coefficients of 7.832 (p < 0.01) and 17.08 (p < 0.05), respectively. The study also revealed that cybersecurity investment provides more accurate estimates than cyber insurance which is reflected in its narrower confidence intervals. The results emphasize the strategic role of cybersecurity investment and insurance to improve financial flexibility, reduce operational risk, and support enduring profitability. It concluded that banks that prioritize these strategies will not only mitigate possible losses from cyber incidents but also gain a competitive advantage through strengthened customer trust and operational efficiency. The study recommended that Nigerian deposit money banks should treat cyber insurance as a vital component of cyber risk management strategies. It is also recommended that bank management should treat cybersecurity expenditure as value-adding investments rather than operational costs.

Cybersecurity is an urgent concern for small and medium enterprises (SMEs) in Uganda, driven by the rapid digital transformation of businesses and increasing dependence on online platforms. This study explores Ugandan SMEs' cybersecurity challenges, highlighting prevalent cyber threats, risk exposure, and a cyber maturity typology to mitigate cybercrime effectively. Using a qualitative, descriptive research design based on secondary data and a literature review, the study examines how Digital, Blended, and Traditional Business Models influence SMEs' cybersecurity preparedness. A key contribution of this research is the development of a context-sensitive typology of SME cyber maturity, which categorises businesses as Traditional, Transitioning, Digitally Enabled, and Digitally Mature, aligned with the National Institute of Standards and Technology (NIST) Cybersecurity Framework but adapted to Uganda's unique environment. The study identifies ongoing issues such as data breaches, financial fraud, and weak digital infrastructure, as well as gaps in policy enforcement and the disconnect between cybersecurity regulations and SME operators' literacy levels, as key cybersecurity threats. Informal responses to cybercrime, including vigilante actions, are also highlighted. This study provides a maturity typology for SMEs that guides policymakers and business owners in improving cybersecurity practices in Ugandan SMEs. The study calls for multi-stakeholder collaboration, stronger regulatory enforcement, and scalable awareness programs to build a more resilient SME sector. Overall, this study contributes to the discourse on SME cybersecurity by proposing literacy-sensitive interventions tailored to the needs of Uganda and offering a foundation for future research into the effectiveness of Uganda's cybersecurity frameworks.