EDITORIAL: Don’t bet on a monetary union by 2024

Kenya, Tanzania, Burundi, Rwanda and Uganda currencies. Readiness of the EAC countries to embrace single currency has come into sharp focus. PHOTO | NMG

On November 30, 2013, the East African heads of state met in Kampala Uganda and approved the protocol for the creation of a common currency regime.

The Monetary Union Protocol is the third pillar of the EAC regional integration agenda after the Customs Union and the Common Market Protocols, with political federation being the final pillar.