1964 East African Currency Board 20 Twenty Shillings VF  Pick 47a


The history of currency in the East Africa Protectorate, which later became Kenya, Uganda, and Tanzania, is a fascinating tale of colonialism, economics, and regional integration.

The East Africa Protectorate was established by the British in the late 19th century. Initially, various forms of currency were used, including barter systems and indigenous currencies such as cowrie shells and beads. However, with the establishment of colonial rule, the British sought to introduce a standardized currency to facilitate trade and administration.

In 1905, the British East Africa Company, which administered the region on behalf of the British government, introduced the East African rupee. This currency was pegged to the Indian rupee and was used alongside other forms of currency.

In 1920, following the end of World War I, the British government took direct control of the East Africa Protectorate and merged it with the colony of Kenya to form the Colony and Protectorate of Kenya. As part of this administrative consolidation, the currency system was also standardized.

In 1921, the East African Currency Board was established to issue a new currency for the region. The East African Shilling (EAS) was introduced as the official currency, replacing the East African rupee. The EAS was pegged to the British pound sterling and was used across the region, including in what would later become Uganda and Tanzania.

The East African Shilling underwent various changes over the years, including alterations to its design and denomination structure. It remained the primary currency of the region throughout the colonial period and into the post-colonial era.

In 1964, following the independence of Kenya and Tanganyika (which later merged with Zanzibar to form Tanzania), the East African Currency Board was replaced by the East African Currency Board. The East African Shilling continued to be used as the currency of the East African Community, which comprised Kenya, Uganda, and Tanzania.

However, in 1967, the East African Community dissolved due to political differences among its member states. Each country subsequently established its own central bank and issued its own currency. Kenya introduced the Kenyan Shilling, Uganda introduced the Ugandan Shilling, and Tanzania introduced the Tanzanian Shilling.

Despite the dissolution of the East African Community, the legacy of the East African Shilling remains significant in the region's economic history. It symbolizes a period of colonial administration, economic integration, and the subsequent challenges of independence and nation-building.

Note: Coins & Banknotes Grading
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