Global Settlement Holdings to Acquire Majority Stake in Uganda’s AKIBA International

Why It Matters

The acquisition positions Uganda as a pioneering hub for tokenised finance in Africa, offering regulated pathways for under‑banked sectors to access global investment. It also gives GSH a foothold in a market where regulators are proactively shaping digital‑asset frameworks, accelerating capital‑raising opportunities for real‑world projects.

Key Takeaways

• GSH gains majority stake in Uganda's AKIBA, securing tokenisation licences
• Deal adds broker‑dealer off‑ramp, regulated exchange, and mining platform
• Uganda's sandbox framework enables testing of tokenised assets under regulator oversight
• GSH aims to raise $1.5 billion for infrastructure, mining, SEZ tokens
• Regulatory sandboxes position Uganda as early hub for tokenised capital markets

Pulse Analysis

Africa’s fintech landscape is entering a new phase as tokenisation moves from theory to practice. Global Settlement Holdings, the backer of the US‑based Global Settlement Network, has deepened its African ambitions by purchasing a controlling interest in AKIBA International, a Ugandan capital‑markets advisory. This acquisition grants GSH direct access to local licences for a broker‑dealer off‑ramp, a regulated exchange, and a mining platform, effectively creating the infrastructure needed to convert real‑world assets—such as infrastructure contracts, mining output, and export invoices—into digital securities. By leveraging Uganda’s proactive regulatory sandboxes, the venture can pilot tokenised products with real users while remaining compliant with the Bank of Uganda and the Capital Markets Authority.

The partnership builds on GSH’s earlier collaboration with the Diacente Group, which is constructing the Karamoja special economic zone and piloting a central‑bank digital currency (CBDC) backed by $5.5 billion in planned commitments. Extending that work into market infrastructure, GSH and AKIBA plan to raise up to $1.5 billion for tokenised offerings across four pillars: energy and digital infrastructure, SEZ and industrial programmes, responsible mining, and trade‑finance instruments like invoices and receivables. By embedding AML, CTF, and governance controls from day one, the platform promises a transparent, low‑cost financing channel for projects that have traditionally struggled to attract capital due to limited banking access.

Uganda’s regulatory approach—creating both fintech and capital‑markets sandboxes—sets it apart from many African peers still formulating digital‑asset rules. This early‑mover advantage could attract global investors seeking exposure to Africa’s growth story while mitigating regulatory risk. However, success hinges on scaling investor onboarding, maintaining robust compliance, and delivering liquid secondary markets. If GSH can execute, the model may serve as a template for other emerging economies, accelerating the continent’s transition to tokenised finance and reshaping how infrastructure and trade are funded.

Deal Summary

Global Settlement Holdings (GSH) announced it will acquire a majority stake in Uganda‑based AKIBA International, giving GSH licences and infrastructure to run a broker‑dealer off‑ramp and a regulated tokenised asset exchange. The deal, pending regulatory approval, expands GSH’s tokenisation push in Africa and includes plans to raise up to $1.5 billion for platform assets.