Ecobank Group has partnered with China’s Cross-Border Interbank Payment System (CIPS) to expand yuan payment connectivity between China and Africa, seeking to simplify cross-border settlements as trade between the two regions grows.
The memorandum of understanding aims to improve access to renminbi (RMB) payment and clearing channels, reduce settlement complexity and strengthen financial infrastructure supporting businesses operating across the China-Africa trade corridor.
Ecobank Group Chief Executive Jeremy Awori says the partnership would connect China’s yuan payment ecosystem with the bank’s network across 34 African markets, helping importers, exporters and other businesses transact more efficiently.
China-Africa bilateral trade reached about $348 billion in 2025, according to Ecobank, highlighting demand for payment systems that can support rising commercial and investment flows.
The agreement was signed during the official visit to China by Togo’s President of the Council, Faure Essozimna Gnassingbé, in the presence of Togo’s Minister of Finance and Budget.
Ecobank, which has maintained a presence in China since 2012, recently inaugurated new office premises in Beijing to strengthen links between Chinese companies, financial institutions and investors and its pan-African banking network.
The lender also operates Chinese Desks across West, Central and East Africa, providing services including trade finance, payments, cash management and cross-border investment support.
The Cross-Border Interbank Payment System deal builds on Ecobank’s partnerships with financial institutions and payment platforms, including Bank of China (Mauritius), XTransfer, YeePay and WorldFirst, as the group seeks to deepen trade and investment links between China and African markets.