THE PAPER MONEY OF THE EAST AFRICAN CURRENCY BOARD

The East African Currency Board (E.A.C.B.) was established in December 1919 after World War 1. The regulations stated that it had been constituted to provide for and control the supply of currency. Originally the E.A.C.B. operated on mainland Tanzania (then Tanganyika), Kenya and Uganda. Zanzibar adopted the currency in 1936. The common monetary system also operated in British Somaliland and the Aden Protectorate subsequent to independence of India (1947). Board currency was essentially issued in exchange for pounds sterling.

The currency issued first was the florin, bearing the head of George V, the example below issued 1st May 1920.

East African Currency Board Pick 8

This was replaced by the shilling on 1st January 1943, bearing the head of George VI.

East African Currency Board Pick 27

The E.A.C.B. played a purely passive role in monetary policies and had no influence to regulate the activities of commercial banks. Commercial banking was introduced into the East African Region towards the end of the 19th Century. There initial establishment was aimed at linking business between Europe, South Africa and India. However the effects of their actions was to stimulate the local economy so that funds became available to pioneer traders and settlers who came to the region. Then came the proceeds of trade from the primary commodities, which encouraged the spread of banking into the internal regions.

The EACB stopped functioning in 1966 when the Central Banks of Kenya, Tanzania and Uganda came into existence.

EAST AFRICAN CURRENCY BOARD GEORGE V1 AND QUEEN ELIZABETH 5/- AND 10/- BANKNOTE SERIES
Click on descriptions to see images of notes on this website

Denomination Description
Pick
Comments
Five Shillings George V 1st Jan 1933
20
 
Ten Shillings George V 1st Jan 1933
21
 
Ten Shillings George V1 1st Jun 1939
26B
 
Five Shillings George V1 1st Jul 1941
28a
 
Five Shillings George V1 1st July 1942
28A
This note does not have the TDLR imprint and is rare
Five Shillings George V1 1st Jan 1949
28b
 
Ten Shillings George V1 1st Jul 1941 3 signatures
29a
 
Ten Shillings George V1 1st Jan 1949 4 signatures
29b
 
Five Shillings Elizabeth 31 Mar 1953
33
 
Five Shillings (ND) Elizabeth 1st Jan 1955
33
 
Five Shillings Elizabeth 1st Oct 1957
33
 
Ten Shillings Elizabeth 1st Feb 1956
34
 
Five Shillings (1958–60) Elizabeth 4 signatures
37
 
Ten Shillings Elizabeth 4 signatures
38
 
Five Shillings (1961 Issue) Elizabeth top left signature E. B. David
41a
 
Ten Shillings Elizabeth top left signature Adu
41b
 
Five Shillings (1961 Issue) Elizabeth top left signature David
42a
 
Ten Shillings Elizabeth top signature Adu
42b
 
Five Shillings (1964 Issue) Brown
45
 
Ten Shillings Green
46
No date (1964)