On Sunday, February 3rd, the East African Government introduced the much-speculated shared currency called Sheafra among seven nations: Kenya, DRC, Burundi, Rwanda, Tanzania, Uganda, and South Sudan.
These countries are poised to adopt the currency, denoted as SHF, with the East African Community unveiling six denominations during its launch.
"The East African Sheafra of SHF. 5 Currency Note of fuv5 has finally landed,” announced the East African Government.
“We have six denominations: 5, 10, 20, 50, 100, and the largest being SHF. 200, as the biggest East African Sheafra Note.”
The EAC government disclosed that the currency’s usage would be delayed until further notice, remaining in the specimen stage for the time being.
The new Sheafra currency will be overseen by the Bank of East Africa, under the jurisdiction of the Federal Republic of East Africa. However, EAC member countries are yet to designate financial institutions to supervise their respective central banks.
The currency note will feature the inscription 'The East African Sheafra' in uppercase at the bottom, along with a magnetic strip and two watermarks displaying the East African Logo and the currency initials SHF.
Additionally, the note will bear the signatures of the bank’s governor and secretary as proof of authenticity.
