Miami-based financial technology company Global Settlement Holdings Inc. (GSH) has announced plans to acquire a controlling stake in Uganda’s AKIBA International Limited, with the two firms targeting up to US$1.5 billion in capital commitments for a regulated tokenized asset exchange in the East African country.
Under the proposed joint venture, AKIBA would serve as the exclusive operating entity for a new broker-dealer and exchange platform designed to handle the primary issuance and secondary trading of tokenized infrastructure, mining assets, and trade finance instruments. The platform would operate under the Bank of Uganda’s Regulatory Sandbox Program with banking integration through a local banking partner.
The announcement positions the deal across four priority sectors: energy transition and digital infrastructure projects, Special Economic Zones (SEZs) and industrial development, responsible mining and mineral value chains, and trade financing including tokenized receivables and structured trade instruments.
GSH Chief Executive Ryan Kirkley said Uganda’s regulators had created a rare early window for structured participation. “Uganda’s regulators are doing something we don’t see often, actively building the framework for tokenized capital markets before the market forces them to,” he said. “We are building a regulated exchange platform backed by a $1.5 billion capital program targeting assets that directly support Uganda’s development priorities.”
Chris Kyerere, Chief Executive of AKIBA International, said the partnership aimed to connect domestic development projects with global capital. “Our shared objective is to build a regulated ecosystem that supports domestic development priorities, connecting local projects to global capital with appropriate oversight, governance, and banking integration,” he said.
The deal builds on GSH’s earlier footprint in Uganda. In October 2025, the company partnered with Uganda’s Diacente Group on a US$5.5 billion real-world asset tokenization and central bank digital currency pilot program. In March 2026, GSH also launched GSX Identity, a decentralised identity and credential platform aimed at regulated digital asset settlement.
Uganda’s digital finance regulatory environment has been evolving rapidly. The Capital Markets Authority launched its own regulatory sandbox for financial technology companies in October 2025, and the Financial Intelligence Authority (FIA) completed a national risk assessment of virtual assets and virtual asset service providers. Sub-Saharan Africa recorded US$205 billion in on-chain transaction value between July 2024 and June 2025, placing the region third globally for blockchain activity growth.
The transaction remains subject to legal, financial, and regulatory due diligence as well as execution of definitive agreements and receipt of required regulatory approvals. The parties describe the current framework as non-binding except for specified provisions including confidentiality and exclusivity.
