Ecobank is preparing to connect more of its pan-African banking network to China’s Cross-Border Interbank Payment System (CIPS), as trade between Africa and China expands.
Reuters reported on October 9, 2026, that the group plans to use CIPS for transactions involving China’s currency. The network links more than 5,000 banks in over 100 countries, according to the report.
Ecobank operates across 34 African countries and is discussing payment services with Bank of China for businesses trading with Chinese partners.
Standard Bank and Rwanda’s Bank of Kigali have also joined CIPS, Reuters reported. In March, Bank of China announced that Ecobank Guinea had become an indirect participant, giving the system an existing foothold within the wider group.
What it means for African businesses
The move could give importers, manufacturers and traders another option for paying Chinese suppliers. Its value will depend on fees, access to Chinese-currency liquidity, exchange-rate risk and whether customers adopt the service.
A wider group connection would not automatically mean immediate access in every market. Businesses will still need to compare the cost and reliability of available payment routes before changing their processes.
The move reflects efforts by African lenders to serve clients whose suppliers, customers and financing relationships increasingly span African and Chinese markets.
Sources: Reuters, October 9, 2026; Bank of China, March 19, 2026.