A common currency is coming to the East African Community in 2012! I was clueless about the East African Community until I read this story.
According to the official portal, the East African Community (EAC) is the regional intergovernmental organisation of the Republics of Kenya, Uganda, the United Republic of Tanzania, Republic of Rwanda and Republic of Burundi with its headquarters in Arusha, Tanzania.
The Treaty for Establishment of the East African Community was signed on 30th November 1999 and entered into force on 7th July 2000 following its ratification by the Original 3 Partner States Kenya, Uganda and Tanzania. The Republic of Rwanda and the Republic of Burundi acceded to the EAC Treaty on 18th June 2007 and became full Members of the Community with effect from 1st July 2007.
Source: The East African
According to the Community Secretariat, a joint study on the proposed harmonised Monetary Union has already kicked off and is expected to end later this month.
This week, the team spearheading the study team led by European central bank consultants is visiting Bujumbura, where it will hold a consultative meeting on the proposed unified currency. Similar meetings have already been held in Nairobi, Dar es Salaam, Kigali and Kampala. The last one will be conducted in Arusha next week.
According to the official portal, the East African Community (EAC) is the regional intergovernmental organisation of the Republics of Kenya, Uganda, the United Republic of Tanzania, Republic of Rwanda and Republic of Burundi with its headquarters in Arusha, Tanzania.
The Treaty for Establishment of the East African Community was signed on 30th November 1999 and entered into force on 7th July 2000 following its ratification by the Original 3 Partner States Kenya, Uganda and Tanzania. The Republic of Rwanda and the Republic of Burundi acceded to the EAC Treaty on 18th June 2007 and became full Members of the Community with effect from 1st July 2007.
Source: The East African
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