Kayode Tokede
Ecobank Group has signed a Memorandum of Understanding with the Cross-Border Interbank Payment System (CIPS) to strengthen Renminbi (RMB) fee connectivity between China and Africa.
The signing ceremony was held within the presence of the Minister of Finance and Budget of the Republic of Togo, on the sidelines of the official go to to China by the President of the Council of the Republic of Togo, Faure Essozimna Gnassingbé, underscoring the strategic significance of strengthening financial and monetary ties between China, Togo and the African continent.
This milestone marks an additional step in Ecobank’s long-term technique to join companies and monetary establishments in China with its pan-African banking community spanning 34 African markets.
China stays Africa’s largest buying and selling accomplice, with bilateral commerce reaching roughly $348 billion in 2025. Commenting on the announcement, Chief Executive Officer of Ecobank Group, Jeremy Awori, in an announcement stated: “China-Africa commerce has developed into one of many world’s most dynamic financial corridors. As commerce relationships deepen and funding flows enhance, supporting monetary infrastructure should evolve accordingly.
“Our partnership with CIPS strengthens the connectivity between China’s RMB payment ecosystem and Ecobank’s extensive African network. It enhances our ability to support importers, exporters and businesses seeking to operate across Africa and China more efficiently and with greater confidence. Ultimately, our objective is to make Africa more accessible for businesses operating from China while helping African companies engage more effectively with Chinese markets.”
