Rédaction Africa Links 24 with Uganda Monitor
Published on 2024-08-22 16:43:12
The East African Community (EAC) has postponed its plans for a single currency, with the new target set for 2031.
The EAC member states signed the protocol for establishing the East African Community Monetary Union (EAMU) in November 2013. This agreement was intended to lay the groundwork for a monetary union within a decade and facilitate the convergence of member currencies into a single currency.
However, EAC Secretary General Ms Veronica Mueni Nduva announced on Wednesday, that the establishment of the monetary union has been delayed until 2031.
