Ecobank Group has signed a Memorandum of Understanding with the Cross-Border Interbank Payment System (CIPS) to strengthen Renminbi (RMB) payment connectivity between China and Africa. The signing ceremony was held in the presence of the Minister of Finance and Budget of the Republic of Togo, on the sidelines of the official visit to China by the President of the Council of the Republic of Togo, Faure Essozimna Gnassingbé, underscoring the strategic importance of strengthening economic and financial ties between China, Togo and the African continent at large. This milestone marks a further step in Ecobank’s long-term strategy to connect businesses and financial institutions in China with its pan-African banking network spanning 34 African markets. The collaboration with CIPS is designed to expand RMB payment and clearing connectivity between China and Africa. It is expected to support smoother RMB payments, reduce settlement complexity and improve access to cross-border payment channels, while strengthening the financial infrastructure behind China–Africa trade. Building the infrastructure behind China-Africa trade China remains Africa's largest trading partner, with bilateral trade reaching approximately $348 billion in 2025. As trade volumes continue to rise, efficient payment, settlement and banking infrastructure is becoming increasingly important for companies operating across the corridor. Commenting on the announcement, Jeremy Awori, Chief Executive Officer of Ecobank Group, said: China-Africa trade has evolved into one of the world's most dynamic economic corridors. As trade relationships deepen and investment flows increase, supporting financial infrastructure must 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. Expanding Ecobank’s China–Africa platform Ecobank has maintained a presence in China since 2012. As part of its commitment to deepening economic ties between China and Africa, Ecobank officially inaugurated its new Beijing office premises to strengthen that presence and provide Chinese companies, financial institutions and investors with a dedicated point of access to the Group's pan-African network. Supported by dedicated Chinese Desks across West, Central and East Africa, Ecobank provides clients with local market expertise and banking solutions across trade finance, payments, cash management and cross-border investment. The China–Africa corridor is a strategic growth opportunity under Ecobank’s Growth, Transformation and Returns (GTR) strategy. The CIPS partnership builds on a broader network of collaborations designed to facilitate trade, investment and payment flows between China and Africa. These include recent cooperation with Bank of China (Mauritius) and partnerships with cross-border payment platforms including XTransfer, YeePay and WorldFirst. Through its Beijing presence, strategic partnerships and banking network across 34 African markets, Ecobank is strengthening the financial infrastructure supporting the next phase of China–Africa trade and investment. About Ecobank Group Ecobank Group is the leading private pan-African banking group with unrivalled African expertise. Present in 34 sub-Saharan African countries, as well as France, the UK, UAE and China, its unique pan-African platform provides a single gateway for payments, cash management, trade and investment. The Group employs over 14,000 people and offers consumer, commercial, corporate and investment banking products, services and solutions across multiple channels, including digital, to over 32 million customers. For further information, please visit www.ecobank.com.
