Ecobank Set to Join China's CIPS Yuan Payment Network
Ecobank plans to sign an agreement to join China's Cross-Border Interbank Payment System on October 17 2026, joining a growing list of African lenders settling trade in yuan.
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AfroEuropa desk
Ecobank, one of Africa's largest banking groups, plans to connect to China's Cross-Border Interbank Payment System (CIPS), aiming to support direct yuan transactions as trade with China increases. According to BitKE, Group CEO Jeremy Awori told Reuters the bank intended to sign an agreement to join the platform in China on October 17 2026.
Ecobank operates across 34 African countries. The lender is also in discussions with Bank of China about jointly providing yuan settlement services, BitKE reported.
CIPS links more than 5,000 banks in over 100 countries and territories, supplying infrastructure for international payments made in the Chinese currency. The move comes after South Africa's Standard Bank became the first African lender to connect directly to CIPS in November 2025, followed by Rwanda's Bank of Kigali. Angola's Banco de Fomento Angola is also planning to join, according to BitKE.
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