The East African community could have a common currency within the next four years, this would require the establishment of the East African central bank subject to approval by the council of ministers from the Region. EAC Secretary General Peter Mathuki said that the move will ease business and movement of people within the region. In a press briefing outlining the priorities for the East African Community for 2023, Mathuki also added that they will send a verification committee to Somalia to assess its readiness to join the bloc
