Ugandans warned of ‘looming digital currency tyranny’ as government readies ‘national payment switch’

Ugandans have been called on to brace for a new financial system being curated by the government through the Central Bank that could forever alter their financial freedoms.

Former Presidential Candidate Joseph Kabuleta sounded the warning on Saturday, about the unfolding intersection of modern technology and biblical end-time prophecies. 

Kabuleta cautioned that the global push towards a cashless society, including the Bank of Uganda’s (BoU) planned National Payment Switch, could create a system of complete government control over citizens' lives and finances.

Digital Currencies and the Preamble of Control

Speaking at “The Watchers Conference” in Nsambya, Kabuleta, who is also president of the opposition party NEED, said the new systems being plotted in Uganda and around the world could be more tyrannical than what was witnessed during the Covid19 pandemic.

The pandemic and its associated lockdowns, he said, were a mere precursor to a far more intrusive future, which he believes will be facilitated by Central Bank Digital Currencies (CBDCs). 

He argued that while the pandemic required visible enforcement via state police, and the military, the next phase of control would be invisible and instantaneous, rooted in digital money.

"What we are trying to tell the people here is that there are prophecies in the Bible that collaborate with contemporary events, which we are expected to know better if we are to survive some of the harsh realities that are going to come toward the end," Kabuleta stated

“From the directors of the Covid movie, will come something which is worse, that involves among others central bank control of digital currencies.

“Those can be dangerous to the extent that the central bank can switch you off and decide what you can or cannot purchase. For instance if they decide that because of the environment, you can consume so much fuel in a month, that will be all you can buy.

"The way it was during the Covid lockdown was that they had to enforce parameters using soldiers and the police. Now they can limit your movement by saying that you can only use your money in a given geographical location. If you leave that jurisdiction, your currency cannot work there.”

The Looming National Payment Switch

The warning comes as the Bank of Uganda (BoU) pushes forward with its National Payment Switch, a “flagship digital transformation project” intended to unify the country’s fragmented payment landscape. 

The Switch, referenced in BoU’s 2024/25 Integrated Annual Report, aims to integrate mobile money, banks, and fintechs into a single, interoperable ecosystem, promising to reduce transaction costs and boost financial inclusion.

While proponents argue that interoperability brings simplicity and efficiency, Kabuleta asserted that this centralisation eliminates the one remaining refuge of financial freedom. He noted that the freedom afforded by cash, where no one decides how you spend your money, would be lost entirely if all transactions become electronic, allowing authorities to decide how you use it and even switch it off if they want.

The Chinese Social Credit Model

Kabuleta also pointed to China’s Social Credit System (SCS) as a real-world example of this digital tyranny already in practice. 

This system, developed by the Chinese government, acts as a national reputation or trustworthiness rating for individuals and businesses, designed to enforce regulatory compliance and dictate social behaviour.

"In China for instance, they have the social credit system. If you run a red light, your social credit score drops and if the score goes below a threshold, movement restrictions kick in. They just control you using devices." 

Penalties for low scores—which can result from anything from tax violations to jaywalking or spreading unverified information—include being placed on blacklists that restrict access to credit, deny placement in high-speed trains or flights, and can even prevent their children from entering certain schools.

Prophecy and the Mark of Control

The former candidate told the conference that these modern financial and surveillance systems align with biblical prophecies concerning the end of days. 

He cited Revelation 13:16–17, which warns of a global economic system under the Antichrist, where "no one may buy or sell except one who has the mark or the name of the beast, or the number of his name."

Kabuleta stressed that these contemporary events are a sign that the prophecies are unfolding rapidly. 

"All these are prophesied and we have been expecting them to happen," he concluded, urging Ugandans to fight for freedom of choice.

The Watchers Conference, held at the Watchers Ground in Nsambya and attended by hundreds, marked the return of the annual event, which was last held in 2022.

Kabuleta holds weekly fellowships focused on the end-times every Friday at the venue.