As the East African Community focuses on deepening integration through working closely with various stakeholders, specifically the private sector as elaborated recently at the 22nd Summit of the Heads of State in Arusha, another bone of contention has erupted, this time one that involves all partner states.

Establishment of the East African Monetary Institute (EAMI) is an idea supported by all member states. However, where to host it is proving to be a real test that’s threatening the bloc’s unity.

The Tanzanian government has reiterated its commitment to hosting the EAMI which will later transform into the region’s central bank. This comes after an extensive verification exercise selected Tanzania as the preferred host country – a decision that is being vehemently objected to by Kenya and Uganda, with Rwanda and Burundi not particularly on board with the idea either.

As initially reported by our sister newspaper, The EastAfrican, EAC partner states have failed to agree on which country should host the monetary institute which is seen as a step towards implementing a single currency regime.

Selection of Tanzania as the host nation for the region’s monetary institute came after EAC partner states submitting their pitches to host the institute.

Refusal by member countries to acknowledge the East African Community Council’s decision is making the process becomes a herculean task, with Tanzania cautioning against a repeat of the verification process.