President Uhuru Kenyatta calls for fast tracking of EAC currency

BY PSCU

President Uhuru Kenyatta has called on the East Africa Community member states to speed up the adoption of a common currency for the region.

President Kenyatta said a single currency would promote faster economic growth for the region.

He told EAC member countries to lay the necessary foundations for the currency to be achieved.

Uhuru said the benefits of the EAC union would be achieved when all commitments under agreed protocols are implemented.

“We must work diligently to achieve a sustainable macro-economic convergence in terms of inflation, fiscal policies and exchange rate stability,” he said.

Uhuru, who is the chairperson of the EAC Heads of State Summit, called on the other leaders to involve citizens in the decisions being made towards a common regional market.

Effective communication

“The integration entails the most intense effort we can gather to make every East African aware of what is going on in their community,” he said.

He appreciated the sensitisations going on in the five countries and added that more can be done to “ensure the people of East Africa are not left behind in the integration process”.

The EAC customs union was established in 2005 and in 2010 the common market was started. “These institutions are central pillars of the integration process of our nations and people,” he said.

EAC is working towards a political federation whose frameworks are under review.

It was announced at the summit that steps are being undertaken to remove East African citizens from the category of ‘foreigner’ whenever they visit a neighbouring state.

During the summit in Tanzania, Uhuru led presidents Jakaya Kikwete of Tanzania and Yoweri Museveni of Uganda, First Vice President of Burundi Prosper Bazombaza and Prime Minister of Rwanda Pierre Habumuremyi in unveiling a memorial of the 1994 Rwanda genocide.

Meanwhile, President Kenyatta has said his government will partner with all Non-Governmental Organizations and other stakeholders in tackling drug and alcohol abuse among the youth.

Uhuru said drug and alcohol problem is not a problem of one region but a countrywide menace that needs to be dealt with by all.

He spoke when he met the Global Teen Challenge Executive Director Jerry Nance and his team at State House yesterday.