The East African Community secretariat proposes a phased rollout of the regional single currency to protect businesses from exchange rate fluctuations.
EAC Chief Stephen Patrick Mbundi warns currency fluctuations damage trade, urging member states ready for a single currency to launch ahead of the bloc.
Ugandan President Yoweri Museveni hosts talks on fast-tracking the East African Monetary Union through a multi-speed approach for member states.
The EAC considers abandoning simultaneous convergence rules for its common currency, allowing a core group of countries to launch the monetary union first.
EAC secretariat seeks to break deadlocks on the single currency with a phased implementation plan to curb regional business losses.
