The Secretariat of the East African Community (EAC) regional bloc has dismissed a post on X, formerly Twitter, which claimed that the bloc’s member countries have launched a common regional currency.
The post which was shared by fake account named Government of East Africa, said that the currency was called the east African Sheafra, a combination of the shilling of East Africa and Franc.
The account also shared an image of a fake banknote of the purported single currency in a post which has received over half a million views and was shared by some leading media outlets and online personalities in the region.
The EAC secretariat dismissed the report of a unified regional currency, saying that the creation of a single East African currency is still a work in progress.
