New System to Settle Uganda-China Transactions in Yuan

New system to settle Uganda-China transactions in Yuan

The system is expected to significantly cut transaction costs and reduce settlement timelines...

Stanbic Uganda launches payments system to ease trade with China

Kampala, Uganda — Stanbic Bank Uganda has become the first financial institution in the country to integrate with China’s Cross-Border Interbank Payment System (CIPS), enabling Ugandan businesses to make direct, faster, and lower-risk payments in Chinese Yuan (RMB).  The move is expected to significantly cut foreign exchange exposure and streamline settlement for the billions of […] The post Stanbic Uganda launches payments system to ease trade …

Stanbic Bank becomes first in Ghana to offer direct Chinese Yuan payments through CIPS

Stanbic Bank Ghana becomes the first bank in Ghana to offer direct Chinese Yuan (RMB) payments through CIPS, simplifying trade, remittances, tuition and business transactions with China.

Stanbic Bank Kenya Now Processing RMB Payments Through China's CIPS System

Kenyan businesses trading with China now have a faster route… The post Stanbic Bank Kenya Now Processing RMB Payments Through China’s CIPS System appeared first on Femme Hub.

RMB cross-border payments system launched in Kenya to boost Sino-Africa trade

NAIROBI, July 31 (Xinhua) -- Stanbic Bank Kenya, a subsidiary of Standard Bank Group, on Friday launched China's Cross-Border Interbank Payment System (CIPS) to facilitate direct renminbi (RMB) transactions, a move expected to further promote trade and investment between Kenya and China. Senior industry executives, diplomats, and entrepreneurs from China and Kenya attended the official go-live ceremony of CIPS,