The EAC secretary general, Dr Peter Mathuki, confirmed the developments last week, saying the proposal is currently before the EAC Council of Ministers
The single currency regime is the third pillar for the EAC regional integration process after the Customs Union, the Common Market, with Political Federation being last.
EAC end-year meet to review monetary union roadmap theeastafrican.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theeastafrican.co.ke Daily Mail and Mail on Sunday newspapers.