“EAC Central Bank Governors Commit to 2031 Single Currency Launch”

East African Community (EAC) central bank governors reaffirmed their commitment to launching a single regional currency by 2031. This affirmation follows their review of progress toward monetary integration and the rollout of a regional cross-border payments system.

The pledge was made during the 29th Ordinary Meeting of the EAC Monetary Affairs Committee (MAC) held in Kampala on July 24. The meeting was chaired by Bank of Uganda Governor Michael Atingi-Ego and included central bank governors and senior officials from EAC partner states, as well as representatives of the EAC Secretariat.

The governors assessed the progress toward the East African Monetary Union,