![President Salva Kiir Mayardit waves as he is inaugurated as chair of East African Community during the 23rd Ordinary Summit of the EAC heads of state and government in Arusha, Tanzania on Friday, November 24, 2023. [Photo by Sudans Post]](https://i0.wp.com/www.sudanspost.com/wp-content/uploads/2023/11/WhatsApp-Image-2023-11-24-at-3.25.24-PM.jpeg?resize=836%2C435&ssl=1)
On Sunday, March 3, a picture was shared on social media of new bank notes purportedly launched by the East African Community (EAC).
“The EAC Secretariat wishes to inform all our stakeholders that the Partner States’ journey to a single currency is still a work in progress,” EAC said in a statement posted on x on Monday.
The body said there was no immediate plan to roll out new banknotes in the region.
“Kindly ignore any rumors circulating in social media on the unveiling of new banknotes for the region.”
EAC, while refuting reports of the launch did not denounce the organization which issued the communication in the first place.
The launch of a common currency has been postponed three times to date since the first proposal by EAC member states.
Initially, the launch of the common currency had been slated for 2024 but later postponed to 2027.
This followed a January 2023 meeting that was attended by delegates from EAC nations that was held in Kenya.
In March 2023, Central Bank Governors drawn from the member states further postponed the launch to 2021.
