Ecobank Signs Partnership with Bank of China to Boost Africa Trade Flows

Ecobank-Bank of China partnership set to mitigate African trade finance gap

The Ecobank Group and Bank of China (Mauritius) have established a partnership to lower currency conversion costs and settle trades more efficiently. Africa currently faces a massive $120 billion annual trade finance gap, with bank lending supporting far fewer goods than in developed markets. New banking initiatives are prioritising renminbi settlement capabilities to bolster trade as direct lending from China continues to fall. Announced yester…

Ecobank Signs Partnership with Bank of China to Boost Africa Trade Flows

News Ghana, Latest Updates and Breaking News of Ghana, News Ghana, https://www.newsghana.com.gh/ecobank-signs-partnership-with-bank-of-china-to-boost-africa-trade-flows/Ecobank Group has signed a memorandum of understanding with Bank of China (Mauritius) Limited to deepen cooperation in trade, payments, and financial services supporting economic activity between China and Africa, the pan-African banking group announced December 22. The memorandu…