We will need to keep our nerves in the face of inevitable setbacks. But I believe that the project is worthwhile and once monetary union comes to fruition, it will be one of the most important institutional foundations for the economic prosperity of East Africa in the 21st century. Why is monetary union essential for the future of East Africa?
A monetary union is crucial for the future prosperity of East Africa for two reasons. The first reason pertains to the role which East African economic integration will play in spurring economic growth and development in this region. The second pertains to how we, as East African countries, relate to the rest of the world.