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[BUSINESS] · China, Ghana · 3 sources

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Part of situation: African banks adopting Chinese yuan settlement systems (7 clusters)

Ecobank partners with China's CIPS for direct yuan trade settlements

yuan settlement CIPS Ecobank China-Africa trade cross-border payments

Ecobank has entered into a partnership with China’s Cross-Border Interbank Payment System (CIPS) to facilitate direct Chinese yuan trade settlements across its network of 34 African countries. This integration allows African businesses to convert local currencies directly into yuan, bypassing the traditional necessity of using the US dollar as an intermediary currency.

The move aims to reduce transaction costs, mitigate foreign exchange risks, and improve liquidity for importers and exporters. By streamlining the payment process, the partnership seeks to provide greater certainty regarding exchange rates and settlement times, which is particularly beneficial for small and medium-sized enterprises (SMEs) facing capital constraints.

This development occurs amid record-breaking trade volumes between the two regions. According to China’s General Administration of Customs, China-Africa trade reached US$348 billion in 2025. Other financial institutions, including Standard Bank and Afreximbank, have also utilized CIPS to facilitate direct yuan payments, reflecting a broader trend of African financial institutions seeking alternatives to dollar-dependent payment routes.

Entities

Africa · China · Cross-Border Interbank Payment System · Ecobank · Grey

Claims

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Sources

Why Faster Yuan Settlement Could Matter More to African SMEs than Lower Transfer Fees [norvanreports.com]
Ecobank Partners China's CIPS for Yuan Trade Settlements in [businesselitesafrica.com]
Comment la Chine étend-elle son offensive du yuan en Afrique ? [www.courrierinternational.com]