Ecobank, Bank of China Deepen Partnership to Boost China–Africa Trade and Payments
Ecobank Group has signed a new Memorandum of Understanding (MoU) with Bank of China (Mauritius) Limited to strengthen financial cooperation and deepen trade, payment and investment flows between China and Africa.
The renewed partnership builds on an existing relationship between the two institutions and is aimed at improving access to trade finance, enhancing cross-border payment systems and expanding Renminbi (RMB) settlement solutions for businesses operating along the China–Africa corridor.
Under the MoU, both banks will collaborate to provide more efficient financial services to corporates, traders and investors engaged in bilateral trade, particularly in sectors such as manufacturing, infrastructure, energy and commodities.
Ecobank said the agreement will help African and Chinese businesses manage transaction costs, reduce settlement risks and improve liquidity management by offering streamlined payment and trade finance solutions tailored to cross-border operations.
The partnership also aligns with growing demand for RMB-denominated trade settlements as Chinese companies expand their footprint across Africa and African exporters seek alternative currency options for trade with China.
Bank of China (Mauritius), which serves as a key offshore RMB clearing and settlement hub, is expected to play a central role in facilitating currency flows and supporting Chinese enterprises investing across the continent.
Ecobank Group, with its presence in 33 African countries, said the collaboration reinforces its strategy of leveraging international partnerships to strengthen Africa’s integration into global trade networks.
The banks noted that the enhanced cooperation supports broader efforts to promote sustainable economic growth, deepen financial inclusion in trade ecosystems and strengthen long-term China–Africa economic ties.
The agreement reflects a growing trend among African financial institutions to position themselves as gateways for international trade, particularly as China remains Africa’s largest trading partner.
