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EAC to set up regional central bank this year
East African Community(EAC) Secretary General Dr Peter Mutuku Mathuki (left) and the President of the East African Court of Justice (EACJ) Nestor Kayobera attending the EAC retreat at Maanzoni Lodge, Machakos County on January 12, 2023. PHOTO | EVANS HABIL | NMG
A decision to set up the East African Monetary Institute --the Central Bank of East Africa—will be made this year, a key establishment required in implementing a single currency regime.
EAC Secretary-General Dr Peter Mathuki said the Council of Ministers is expected to plan on the location of the EAMI this year.
