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Somalia Fully Integerated into EAC amidst Calls for A Regional Currency :: Uganda Radionetwork
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Somalia Fully Integerated into EAC amidst Calls for A Regional Currency

“All partner states contribute equally, and so far the contribution per state is 7.3 Million dollars towards the main EAC Budget, and then 1.1 million to fund the IUCEA and the East African Community Civil Aviation Safety and Security Oversight Agency (CASSOA) bring the total contribution per member to 8.4 million,” he said.
Officers hoist flag of Somalia at the EAC Secretariat in Arusha to symbolise the country's full membership
The Federal Republic of Somalia is officially declared the newest member of the East African Community after depositing her Instrument of Ratification of the Treaty of Accession with the Secretary-General Monday morning. The Federal Republic of Somalia is officially declared the newest member of the East African Community after depositing her Instrument of Ratification of the Treaty of Accession with the Secretary-General Monday morning. 

Somalia becomes the bloc’s 8th Partner State, adding another 7 billion dollars of GDP to 303 billion as per the 2022 estimates, and as well brings with it 17 million people, making the EAC population, 320 million people. The Treaty of Accession was signed in December 2023 by Somalia’s President Sheikh Hassan Mohamud and Salva Kiir Mayardit the Chairperson of the Summit of EAC Heads of State and South Sudan President at State House Entebbe Uganda, before the host president Yoweri Museveni.     

Apart from Uganda, the other seven Partner States are Burundi, the Democratic Republic of the Congo, Kenya, Rwanda, South Sudan, and Tanzania. Somalia’s Minister of Commerce and Industry, Jibril Abdirashid Haji Abdi, presented the country’s Instrument of Ratification to Dr Peter Mathuki, marking the climax of the process of Somalia’s entry into the EAC. 

Immediately after receiving the Instrument, Secretary General Peter Mathuki pronounced the Federal Republic of Somalia as a new member of the Community, before communicating to the other partner states, the African Union and the United Nations, in line with the EAC Admission Procedure for new members. Mathuki told the Somali delegation and the other officials at the event in Arusha, Tanzania that Somalia was now free to contribute to the development of a roadmap for her integration into the EAC.  

Somalia now has the green light to contribute to the development of a roadmap for her integration into the EAC. The roadmap will detail how the Federal Republic of Somalia will implement various EAC Commitments such as the Customs Union, Common Market, Monetary Union, and Political Federation,” said Dr. Mathuki.  

"Somalia boasts the longest national coastline of over 3,000KMs in Africa, linking Africa to the Arab Peninsula, which the region can tap into to exploit Somalia’s blue economic resources and increase intra-regional trade and improve the lives of East Africans,” Dr. Mathuki added.

     Abdi said that this moment was long overdue and that they were ready to play their part as a nation to contribute to the development of the EAC and their country. “We recognize the importance of adding value to the Community, enhancing collaboration with our neighbors, and promoting regional economic and social development through increased trade, bilateral agreements, and joint programs and projects,” said Abdi.  

He said that his country was ready to be an active member in the development of the region, adding that the depositing of the Instrument of Accession should “symbolize not just a signature on paper but a promise of dedication and cooperation.”  

“Somalia is ready to play its role as a contributing member of the Community, working hand in hand with each of you so that we have a brighter and more prosperous future for all EAC member states and their citizens, and all members of the community ” Abdi added.   

The Counsel to the Community, Anthony Kafumbe, said that Somalia had 12 months from the signing of the Treaty of Accession on 15th December 2023 to domesticate it to give the Treaty the force of law in the country.  Dr. Kafumbe further said that Somalia was now free to participate in all activities and programs of the EAC now that the country is a full member of the bloc. 

The country is also required to designate a Ministry to coordinate EAC matters as, as well as elect nine members to the East African Legislative Assembly and appoint a Judge to sit in the First Instance Division of the East African Court of Justice. While the region now boasts of a population of almost a quarter of the continent, in terms of economic strength, it accounts for about one-seventh. 

Worldwide, it has the fourth largest population, but comes at 50th in terms of the size of the economy, according to World Bank statistics.  EAC Director for Finance, Juvenal Ndimuriho, highlighted the importance for the partner states to comply with their financial obligations to the Community. “All partner states contribute equally, and so far the contribution per state is 7.3 Million dollars towards the main EAC Budget, and then 1.1 million to fund the IUCEA and the East African Community Civil Aviation Safety and Security Oversight Agency (CASSOA) bring the total contribution per member to 8.4 million,” he said.   

SG Mathuki also called on the relevant organs to fast-track the process leading to a monetary union of the community. He welcomed the circulation of a post recently on social media purporting to show the official currency of the bloc, which he insisted was a fake post, saying that it shows how people are looking forward to reaching this step."I wish it was true. I only wish it was true. We need a currency because why should you want to move from one country to another carrying a currency then you have to change that from one currency to another?," he wondered.

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