1 Cent – East Africa

In 1922, the currency landscape of East Africa was dominated by the East African Protectorate (later Kenya), Uganda, and Tanganyika, each under varying degrees of British colonial administration. The region operated on a de facto sterling exchange standard, with the official currency being the East African florin, introduced in 1920 to replace the Indian rupee. However, this transition was brief and problematic; the florin, pegged at two shillings sterling, faced public resistance and practical difficulties in accounting, as the British pound sterling remained the region's primary financial benchmark and the currency of imperial trade.

Consequently, 1922 was a pivotal year of monetary reform. Recognising the florin's failure, the British authorities passed the East African Currency Order in Council, paving the way for its replacement. The new currency, the East African shilling, was introduced in 1922. It was subdivided into 100 cents and was permanently fixed at a value of one shilling sterling, simplifying transactions and aligning the colony directly with the British monetary system. This move was designed to stabilise the economy, facilitate administration, and deepen economic integration with the Empire.

The introduction of the shilling also solidified British monetary control across its East African territories, creating a unified currency zone that would persist for decades. In Tanganyika, a former German colony now under British mandate, the shilling replaced the German East African rupie, further consolidating British economic influence. Thus, by the end of 1922, the region had moved from a period of monetary experimentation and public discontent to a standardised, sterling-backed system that would govern commerce and colonial finance until the mid-20th century.