FALSE: EAC has not released a single currency | by PesaCheck | Apr, 2024
The East African Community (EAC) secretariat has denounced the post.
This post on X (formerly Twitter) claiming that the East African Community has unveiled a single currency is FALSE.
According to the publication, the currency has been unveiled by the eight-member community and given the name “The East African Sheafra”.
The X account that posted the claim had a grey check mark. However, it is not the official account of the East African Community.
The account refers to itself as the ‘Government of East Africa’, yet the regional intergovernmental organ is the East African Community (EAC) comprising Burundi, Kenya, Rwanda, South Sudan, Tanzania, Democratic Republic of Congo, Uganda and Somalia.
The EAC secretariat has rubbished reports that the region has developed a universal currency dubbed the Shilling of East Africa and Franc (SHEAFRA).
“The EAC Secretariat wishes to inform all our stakeholders that the Partner States’ journey to a single currency is still a work in progress. Kindly ignore any rumours circulating in social media on the unveiling of new banknotes for the region,” the EAC posted on their verified Facebook page.
The community has not unveiled the East African single currency. There is no such news in the media or the EAC’s social media channels X and Facebook.
The community planned to have a single currency by 2024, but member countries deemed it unfeasible and have since extended the deadline to 2031.
PesaCheck has looked into a post on X claiming that the East African Community has unveiled a single currency and finds it to be FALSE.
