East African Common Market Formed, Monetary Union Planned for 2012
Five East African Nations in New Block
Five East African nations became part of a “common market” last Thursday. Kenya is likely to have the most single influence:
Kenya: Moment is Nigh to Live the East African Dream
Gichinga Ndirangu
3 July 2010
opinion
Nairobi — The excitement that has greeted the launch of the East African Common Market Protocol is understandable. The break-up of the original East African Community in 1977 was a lost opportunity and denied the region a chance to consolidate trade…
In the intervening period and before EAC leaders began retracing their footsteps to recapture that original vision, other regions, most notably the European Community, bolted out and created a strong market that has since matured into the European Union with its own currency, aligned trade policies and an expanded membership of 25. It is nostalgic to think where East Africa would be had it remained as resolute as the European Community.
The icing on the cake, though, is that from the original three states, Burundi and Rwanda have since crashed into the party aggregating the EAC market to 126 million people. It is widely expected that should the forthcoming referendum in Sudan vote in favour of two states, Southern Sudan will join the EAC in earnest. It is the only logical choice…
Furthermore, this group hopes to have monetary union by 2012 and a common currency by 2015:
East African Countries Form a Common Market
By JOSH KRON
Published: July 1, 2010
BUJUMBURA, Burundi — The world’s newest common market was created Thursday when a regional bloc of five east African countries freed up the movement of people, products and capital across borders, furthering East Africa’s dream of broad political unification.
The transformation and growth of the bloc, known as the East African Community, has been unfolding quickly after being reinvigorated just over 10 years ago. The bloc aims to become a monetary union by 2012 and have a common currency by 2015, with political federation to come soon after. Ultimately, leaders from the countries talk about becoming a single east African nation...
The community has expressed interest in a common currency, as well as a single tourist visa. The member states are also collaborating on building a regional railway line that would run from the Indian Ocean to Burundi, bordering Lake Tanganyika.
“The idea of a United States of East Africa is less far-fetched than it was before,” said Pratibha Thaker, regional director for the Economist Intelligence Unit. http://www.nytimes.com/2010/07/02/business/global/02africa.html?_r=1&ref=world
Whether or not it will stick together and have its own currency then is not clear. What is clear is that more and more nations are realizing that they need to align with others for their economic (and sometimes military) futures.
The Bible indicates that all none Anglo-nations will likely prosper in the several years. Africa would expect to be doing better economically as well.
For further information, please check out the following articles:
Africa: Its Biblical Past and Prophesied Future What does the Bible teach about Africa and its future? Did the early Church reach Africa? Will God call all the Africans?
The Arab World In the Bible, History, and Prophecy The Bible discusses the origins of the Arab world and discusses the Middle East in prophecy. What is ahead for the Middle East and those who follow Islam? What about the Imam Mahdi?
Is There A Future King of the South? Some no longer believe there needs to be. Might Egypt, Islam, Iran, Arabs, or Ethiopia be involved? Might this King be called the Mahdi? What does the Bible say?
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