EAC member states not ready yet for single currency rollout
EAC headquarters in Arusha, Tanzania. A taskforce has proposed to delay the implementation of the East African Monetary Union until 2031 from initial date of 2024. PHOTO | COURTESY
East African Community member states will have to wait longer for a monetary union. A taskforce to look into the matter has proposed to delay the implementation of the East African Monetary Union (EAMU) until 2031 from initial date of 2024, saying it is too soon considering members have not attained all requirements.
The proposed delay is an indictment on the members’ commitment to achieve EAMU, a key pillar of integration.
