First Independent Mena Newspaper
The East African countries have not done enough to make sufficient progress in delivering on the pending actions outlined in the East African Monetary Union roadmap for a region’s single currency, according to the East African Budget Network (EABN). Therefore, East African Community (EAC) governments have been urged to fast-track the implementation of a single […]
East Africa could soon become Africa’s economic powerhouse if ongoing plans to expand the seven-member East African Community (EAC) are implemented successfully, as latest figures from the International Monetary Fund (IMF) indicate. The EAC’s gross domestic product is expected to hit $346.17 billion in 2023, according to the IMF’s latest forecast, which can be attributed […]
A decision to set up the East African Monetary Institute (EAMI) — the Central Bank of East Africa — which is widely seen as a key institution required in implementing a single currency regime, will be made this year, East African Community (EAC) Secretary-General Peter Mathuki has said. Member states have so far failed to […]
The East African Community (EAC) has secure $2.5 billion loan from the African Development Bank (AfDB) to provide an additional 7,480 megawatts (MW) of electricity by 2022. The regional bloc comprises six member states in the African Great Lakes region in eastern Africa, namely: Burundi, Kenya, Rwanda, South Sudan, Tanzania and Uganda. The funds – […]