The East African Government has released and launched a common Sheafra currency that will be used by the East African Community members.
The East African Community consisting of Kenya, Uganda, Tanzania, Rwanda, Burundi, the Democratic Republic of Congo and South Sudan is expected to start using the currency that will be known as East African Sheafra (SHF).
The East African Sheafra was launched today, Sunday 3rd March and according to reports, the currency is part of six denominations that will be released by the Community.
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“The East African Sheafra of SHF.5 Currency Note of fuv5 has finally landed. We have 6 Denominations, 5, 10, 20, 50, 100, and SHF.200 as the biggest East African Sheafra Note.”
According to President William Ruto, Benson Kipruto, the kenyan athlete who won the Tokyo Marathon is set to be the first person to receive the currency after the great achievement he made in the race.
Features of the East African Sheafra Currency
The note will be issued by the Bank of East Africa which will be regulated by the Federal Republic of East Africa.
Member countries of EAC are yet to officially set the financial institution which would be superior to local central banks.
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On the bottom, the currency will have the insignia ‘The East African Sheafra’ written in capital letters.
The note will further have a magnetic strip and two watermarks bearing the East African Logo as well as the currency initials – SHF.
The currency will have the signature of the bank’s governor and secretary as proof of authenticity.