Global Settlement Network (GSN) has teamed up with Diacente Group to launch a $5.5 billion tokenised economy in Uganda.
Designed to bring real-world infrastructure, renewable energy, and trade assets onto a blockchain-based system, the initiative is one of the biggest digital economy transformations in Africa, bringing about national-scale digital infrastructure.
At the heart of this partnership lies Uganda’s first Central Bank Digital Currency (CBDC) pilot, built on GSN’s permissioned blockchain and backed by Ugandan treasury bonds.
The CBDC, designed to operate within existing financial regulations, is expected to provide faster and more secure settlements while expanding financial inclusion across East Africa.
The digital currency, accessible via smartphones and USSD, will allow more than 40 million Ugandans to engage in secure, mobile-first transactions. It also integrates full Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols to ensure compliance with both domestic and global standards.
According to GSN, tokenisation will extend to multiple sectors, including agriculture, mining, renewable energy, and global trade. This aims to open up opportunities for individuals, institutions, and governments to participate more directly in economic development, reducing dependency on intermediaries while attracting international investment into Uganda’s industrial base.
“We’re building infrastructure that goes beyond theory; a programmable economy grounded in real assets, regulatory collaboration, and mass accessibility,” said Ryan Kirkley, co-founder of Global Settlement Network. “This is how we close the gap between digital finance and real-world impact.”
Edgar Agaba, chairman of Diacente Group, noted the long-term vision behind the collaboration. “This partnership goes beyond infrastructure; it’s about unlocking long-term value for our people and our region,” he said.
“By integrating tokenisation and CBDCs into Uganda’s development roadmap, we’re creating transparent, tech-driven ecosystems that attract new capital, empower local industries, and scale sustainable growth from the ground up.”
The initiative aligns with Uganda’s Vision 2040, the African Union’s Agenda 2063, and the objectives of the African Continental Free Trade Area (AfCFTA). The Karamoja Green Industrial and Special Economic Zone (GISEZ), led by Diacente Group, has already been recognised as a national flagship project under Uganda’s Karamoja Regional Development Plan (2025–2035).
With projections of over one million jobs and potential annual exports of up to $10 billion, the tokenised economy in Uganda aims to build a foundation for sustained industrialisation, job creation, and cross-border trade.
In merging blockchain technology with national development priorities, the GSN-Diacente collaboration shows a change in how Africa’s emerging economies could digitise and democratise economic growth.
