Ecobank Group and CIPS Partner to strengthen China-Africa financial corridor

BEIJING, Oct. 12, 2026 (GLOBE NEWSWIRE) -- 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 took place 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. The ceremony underscored the strategic importance of strengthening economic and financial ties between China, Togo and the African continent.

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, improve access to cross-border payment channels and strengthen the financial infrastructure behind China–Africa trade.

Building the infrastructure behind China-Africa trade

China remains Africa's largest trading partner, with China-Africa bilateral trade reaching approximately $348 billion in 2025. As trade volumes continue to rise, efficient payment, settlement and banking infrastructure is becoming more 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, 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. 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, the Group officially inaugurated its new Beijing office premises to strengthen its presence and 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.

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 that 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 strengthens 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.

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Media contact
Christiane Mbimbe B.
Group Communications
Ecobank Transnational Incorporated
Email: groupcorporatecomms@ecobank.com
Web: www.ecobank.com

official Opening of the Beijing Office

From left to right: The Group Executive Corporate and Investment Banking, Ecobank Michael Larbie, The Group CEO of Ecobank Jeremy Awori and the Head of China Business Jiang Guanhua - cutting the ribbon of Ecobank's Beijing new office

Signing Ceremony CIPS & Ecobank Group

From Left to right: Michael Larbie, Ecobank Group Executive Corporate and Investment Banking, Jeremy Awori, Group CEO Ecobank, Essowe Barcola, Ministry of Finance and Budget Togo Republic and Mr. Zang Mingshen, Executive Vice- President CIPS

MOU Signing between CIPS & Ecobank Group

Mr Michael Larbie, Ecobank Group and Mr Zhang Mingshen, CIPS Representative after signing the MOU