Uganda Unleashes $5.5B Tokenization Push and CBDC Pilot as Kenya Finalizes Crypto Bill
Uganda has launched one among Africa’s most formidable blockchain initiatives thus far, a $5.5 billion real-world asset tokenization mission paired with the nation’s first central financial institution digital foreign money (CBDC) pilot.
The new initiative, led by the Global Settlement Network (GSN) and Uganda’s Diacente Group, will convey $5.5 billion price of bodily infrastructure property on-chain. The tokenized portfolio will span sectors such as meals manufacturing, mining, renewable power, and commerce.
The rollout features a pilot of Uganda’s digital shilling, a CBDC backed by Ugandan treasury bonds and deployed on GSN’s permissioned blockchain.
The transfer comes as neighboring Kenya advances its Virtual Asset Service Providers (VASP) Bill, marking a major second for digital finance regulation and infrastructure improvement throughout East Africa.
From Kampala to Nairobi: East Africa Accelerates Toward a Regulated Digital Economy
According to GSN co-founder Ryan Kirkley, the initiative represents a significant step towards linking blockchain know-how with tangible improvement outcomes.
“We’re constructing infrastructure that goes past idea — a programmable economic system grounded in actual property, regulatory collaboration, and mass accessibility,” he mentioned.
The CBDC is designed to function in a regulated setting and adjust to worldwide requirements, together with Know-Your-Customer (KYC) and Anti-Money Laundering (AML) protocols.
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It will likely be accessible by way of smartphones and USSD know-how, permitting over 40 million Ugandans to transact utilizing a safe, mobile-first digital foreign money for the primary time.
The partnership helps Uganda’s Vision 2040 and aligns with the African Union’s Agenda 2063, as nicely as the African Continental Free Trade Area (AfCFTA) framework.
The Karamoja Green Industrial and Special Economic Zone (GISEZ), managed by Diacente, is on the core of this rollout and has been designated a nationwide flagship underneath Uganda’s Karamoja Regional Development Plan (2025–2035).
The mission is predicted to create over a million jobs and might generate as much as $10 billion in annual exports, reinforcing Uganda’s place as a regional digital and industrial hub.
Diacente Group Chairman Edgar Agaba added that the partnership “goes past infrastructure,” emphasizing that integrating tokenization and CBDCs into Uganda’s financial roadmap will assist appeal to new capital, empower native industries, and drive sustainable development.
Meanwhile, Kenya is making progress by itself crypto regulation efforts. The nation’s National Assembly has advanced the Virtual Asset Service Providers (VASP) Bill (N.A. Bill No. 15 of 2025) to the third studying stage.
The laws, which grants oversight powers to the Central Bank of Kenya (CBK) and the Capital Markets Authority (CMA), seeks to manage digital property and fight dangers such as cash laundering and terrorism financing.
Kuria Kimani, Chair of the Finance and National Planning Committee, emphasised the invoice’s position in defending Kenya’s financial system whereas fostering innovation.
The Treasury can have the authority to difficulty extra laws protecting stablecoins, tokenization, exchanges, ICOs, and cybersecurity necessities.
If permitted, the invoice will transfer to President William Ruto for signature.
Local business group VACC famous that the laws locations Kenya amongst Africa’s high 5 nations advancing complete crypto laws, opening doorways for innovation and funding within the area’s rising digital economic system.
Sub-Saharan Africa Emerges as a Global Crypto Growth Leader With $205B in Transactions
Sub-Saharan Africa has emerged as one of many fastest-growing areas for digital asset adoption, according to a September report from blockchain analytics firm Chainalysis.
The area, which incorporates nations such as Uganda and Kenya, obtained $205 billion in on-chain worth between July 2024 and June 2025, rating third globally for development.
Nigeria stays the continent’s chief in digital foreign money innovation, having launched Africa’s first central financial institution digital foreign money (CBDC) in 2021. Ghana and South Africa have accomplished pilots, whereas Egypt plans a rollout by 2030.
Kenya and Rwanda are nonetheless conducting public consultations. Statista tasks that Africa’s crypto consumer base could surpass 75 million by 2026, producing an estimated $5.1 billion in income.
Stablecoins now account for 43% of Sub-Saharan Africa’s whole crypto transaction quantity, pushed by Nigeria, South Africa, Ghana, Kenya, and Zambia.
@Ripple has prolonged the attain of its RLUSD stablecoin into Africa, forming new partnerships with fintech platforms.#Ripple #Africahttps://t.co/2KKP8wXwaZ
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Ripple recently expanded its U.S. dollar-backed stablecoin, RLUSD, throughout the continent by way of partnerships with Chipper Cash, VALR, and Yellow Card. The token is being examined in remittance, treasury, and climate-insurance purposes.
In June, Visa also partnered with Yellow Card to develop stablecoin funds throughout Africa, beginning with pilot packages this yr.
Regulatory momentum continues to construct. Kenya’s proposed Virtual Asset Service Providers Bill is considered as a possible mannequin for regional frameworks, whereas Mauritius, Botswana, and a number of Central African nations have already handed formal crypto legal guidelines.
Despite speedy development, over 80% of intra-African funds nonetheless depend on overseas banks, exhibiting the demand for native digital cost infrastructure.
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