Single Currency Plans for East African Community Under Way

East African Community partner states are in the process of finalising policies to attain a single currency for the region by 2024 as outlined in the EAC Monetary Union Protocol. EAC Secretary General Ambassador Liberat Mfumukeko has said that the bill for the establishment of the East African Monetary Institute (EAMI) has already been agreed to by the summit of heads of state, adding that the EAMI would later be transformed into the East African Central Bank that would issue the single currency.

  • East Africa:   EAC Edging Closer to Single Currency

    Daily News, 29 January 2020

    EAST African Community partner states are in the process of harmonising policies and putting in place the requisite institutions to attain a single currency for the region by 2024… Read more »

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  • East Africa:   Adoption of Single EAC Currency to Take Longer

    East African, 19 May 2019

    Midway through the 10-year period during which partner states of the East African Community are expected to have in place the required institutions and benchmarks leading to the… Read more »

  • East Africa:   EAC Eyes Single Currency By 2024

    Daily News, 14 November 2017

    EAST African Community (EAC) states are aspiring for a single EAC currency by 2024. Tanzania, Kenya and Uganda are determined to merge their respective shillings with Rwanda and… Read more »

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