Is the East African Community launching a common currency as claimed?

Posts shared here, here, here, and here claim that the East African Community has unveiled a new common currency called Sheafra. Photos of the currency circulating online have the name Bank of East Africa and the posts mention a Government of East Africa, suggesting that the member states will merge.


The East African Community (EAC) has seven member countries: Kenya, Uganda, South Sudan, Tanzania, Rwanda, Burundi and the Democratic Republic of Congo, and is headquartered in Arusha, Tanzania. EAC member states are home to more than 283.7 million people, making the economic bloc vital for trade growth within the region. Calls for a single currency in the EAC have existed for years, but the actualisation has yet to occur.


The X account claiming to be the official East Africa Community page published the first post with this claim. Although the account has a grey check mark issued by X only to governmental/multilateral organisations, the page created in October 2023 is not an official EAC social media page. EAC’s official X page is linked on its website here.

EAC flagged the claims of a common currency as fake here on its Instagram, X and Facebook. “Kindly ignore any rumours circulating in social media on the unveiling of new banknotes for the region,” the post read.

The alleged owner of this fake account was identified by BBC as a Ugandan, Moses Haabwa. He claims his project to ‘push for closer East Africa is God-given’.


Claims that the East African Community has launched a common currency are MISLEADING.

Add comment

Your email address will not be published. Required fields are marked *