Ecobank Group signed a Memorandum of Understanding with the Cross-Border Interbank Payment System (CIPS) to strengthen Renminbi (RMB) payment connectivity between China and Africa, with China-Africa bilateral trade reaching approximately $348 billion in 2025.

The signing ceremony took place on the sidelines of the official visit to China by the President of the Council of the Republic of Togo, Faure Essozimna Gnassingbé, and was attended by the Minister of Finance and Budget of the Republic of Togo. The ceremony underscored the strategic importance of strengthening economic and financial ties between China, Togo, and the African continent.

Expanding RMB payment infrastructure across Africa

The collaboration with CIPS is designed to expand RMB payment and clearing connectivity between China and Africa. The key objectives of the partnership include:

• Supporting smoother RMB payments across the corridor
• Reducing settlement complexity for cross-border transactions
• Improving access to cross-border payment channels
• Strengthening financial infrastructure behind China-Africa trade

The following table summarises the key details of the partnership:

Building on Ecobank's China-Africa platform

Ecobank has maintained a presence in China since 2012. As part of its commitment to deepening economic ties, the Group inaugurated its new Beijing office premises to provide Chinese companies, financial institutions, and investors with a dedicated point of access to its pan-African network. Supported by dedicated Chinese Desks across West, Central, and East Africa, Ecobank delivers local market expertise and banking solutions across trade finance, payments, cash management, and cross-border investment.

Jeremy Awori, Chief Executive Officer of Ecobank Group, commented: "China-Africa trade has evolved into one of the world's most dynamic economic corridors. As trade relationships deepen and investment flows increase, financial infrastructure must evolve to support them. 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 operating across Africa and China more efficiently and with greater confidence."

Strategic partnerships supporting the corridor

The CIPS partnership is part of Ecobank's Growth, Transformation and Returns (GTR) strategy, which identifies the China-Africa corridor as a strategic growth opportunity. It builds on a broader network of collaborations designed to facilitate trade, investment, and payment flows between China and Africa.

Through its Beijing presence, strategic partnerships, and banking network across 34 African markets, Ecobank aims to strengthen the financial infrastructure supporting China-Africa trade and investment.