Africa is no stranger to economic consolidation work. A
number of regions have been working for years to increase their
economic capacity and entice investors in. One of those looking
most promising is that of the Eastern African region, taking
form as the East African Community (EAC).
The East African Community (EAC) is a Regional Economic
Community (REC) that is composed of six Partner States
– Uganda, Kenya, Tanzania, Rwanda, Burundi and South
Sudan. The EAC was established in 1999 by the Treaty for the
Establishment of the East African Community (EAC Treaty). The
Treaty was originally signed by regional giants such as Uganda,
Kenya and Tanzania, with Rwanda and Burundi acceding to it in
2007 and South Sudan in 2016. In June 2019, the Democratic
Republic of Congo also applied to join the EAC.
"Generally, from a banking industry perspective, banks
support having a monetary system that promotes regional