MILESTONE | Standard Bank Processes Over $1 Billion in Yuan Payments Across Africa in One Year

Standard Bank Passes $1 Billion In China Payment Transactions

Standard Bank has moved more than $1 billion through China’s Cross-Border Interbank Payment System in the space of a single year, a sign of how fast trade between Africa and China now moves. The lender, Africa’s largest bank by assets, became the first bank on the continent authorised to process transactions through CIPS. It received [...] The post Standard Bank Passes $1 Billion In China Payment Transactions appeared first on Khusoko - Your Gat…

Standard Bank/Stanbic Working on $500m Loan for Uganda

Standard Bank Group, the South African banking group that owns Stanbic Bank Uganda, is structuring a fresh $500 million (UGX1.82 trillion) financing package for Uganda, further cementing its role as one of the country’s largest commercial financiers of public infrastructure. The proposed financing was announced following a high-level meeting between executives from Standard Bank Group, the parent company of Stanbic Bank Uganda, and Uganda’s Mini…

MILESTONE | Standard Bank Processes Over $1 Billion in Yuan Payments Across Africa in One Year

Standard Bank has processed more than 8 billion Chinese Yuan ($1.2 billion) in cross-border payments through China’s Cross-Border Interbank Payment System (CIPS) underscoring the rapid growth in trade between Africa and China and rising demand for direct Renminbi settlement. The milestone comes just over a year after the South African lender became the first African bank granted direct access to CIPS, enabling businesses to settle transactions w…

China-Africa Trade Payments Cross $1 Billion as Standard Bank's Yuan Bet Pays Off

A year after becoming the first African bank authorised to process direct transactions through China’s Cross-Border Interbank Payment System, Standard Bank says the volume flowing through that channel has topped $1 billion — a fast start that points to a deeper shift in how African businesses pay their Chinese suppliers. Standard Bank was granted approval […]