A fake X account with a grey checkmark, indicating that it represents a government or multilateral organization, has caused confusion and outrage among East Africans by announcing the launch of a new regional currency.
The account, which claimed to be the official handle of the East African Community (EAC), a bloc of six countries, posted a series of tweets on Sunday saying that the EAC had unveiled the East African Sheafra, a common currency that would replace the national currencies of the member states.
The account (@EastAfricaGov), also posted images of what it said were the new banknotes, featuring prominent figures and landmarks from the region, and gave the exchange rates of the Sheafra against the US dollar and the existing currencies.
The tweets quickly went viral, attracting thousands of likes, retweets, and comments from users who expressed their shock, disbelief, or excitement about the news.
However, the EAC Secretariat, the executive organ of the bloc, later issued a statement on its unverified X account, denying the existence of the new currency and the authenticity of the account that announced it.
“The EAC Secretariat wishes to inform all our stakeholders that the Partner States’ journey to a single currency is still a work in progress. Kindly ignore any rumours circulating in social media on the unveiling of new banknotes for the region,” the statement read.
The EAC also urged the public to follow its official communication channels and to report any suspicious or fraudulent accounts to the relevant authorities.
The EAC, which comprises Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda, has been working towards a monetary union with the aim of creating a single market and enhancing economic integration. However, the process has faced several challenges and delays, and no official date has been set for the introduction of the common currency.
The fake account is believed to have taken advantage of the X subscription program, which allows users to access exclusive features and content from verified accounts for a monthly fee. The program grants a grey checkmark to accounts that represent government or multilateral organizations or officials, without requiring them to undergo the usual verification process.
X has not yet commented on the incident, but has previously said that it is committed to ensuring the safety and authenticity of its platform and that it has measures in place to prevent and detect fraud and abuse.
The incident has raised questions about the credibility and security of the X subscription program, as well as the readiness and feasibility of the EAC monetary union.
