Eastern African Countries Also Have Plans for a New Single Currency

Eastern African Countires Also Have Plans for a New Single Currency by 2023

Following the recent establishment of the Eco, the new West African single currency to be adopted by Ecowas in 2020 the east African community the EAC is not being left behind.

The East African Monetary Union (EAMU) is at an important stage in the process of implementing one East African Currency. The EAMU Protocol was adopted in accordance with the EAC Treaty and signed on November 2013; it laid the groundwork for a one east African monetary union by 2023 and allows the EAC Partner States to progressively converge their currencies into a single currency.

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