EAC Central Bank Chiefs push for single currency by 2031

According to a statement issued on Monday by the EAC headquarters in Arusha, Tanzania, the commitment was made during the committee's 29th ordinary meeting, held on July 24 in Kampala, Uganda, which brought together central bank governors and senior officials from EAC member stat..

✨ Key Highlights

Central bank chiefs from the East African Community (EAC) have reaffirmed their commitment to establishing a single East African currency by 2031, signaling a push for deeper regional financial integration.

The target date for the single currency is 2031.
The commitment was made by the EAC Monetary Affairs Committee (MAC), comprising central bank governors.
The region's economy is projected to grow by 5.2 percent in 2026, outperforming the sub-Saharan African average.

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