Stanbic Bank Uganda just made history as the first local institution to launch direct China Yuan payments.
They integrated with China’s Cross‑Border Interbank Payment System (CIPS) to make RMB transactions faster and lower risk.
This move slashes foreign exchange exposure for the billions of dollars in annual trade between the two nations.
Uganda imported USD 3.3 billion worth of goods from China in 2025, while exports hit only USD 118 million.
The new system helps exporters reach Chinese buyers efficiently and cuts costs for importers.
Minister of State for Industry David Bahati presided over the launch at the Stanbic–China Trade Forum in Kampala on Tuesday.
He confirmed the platform tackles long-standing payment and data challenges in the Uganda–China trade corridor.
#StanbicBank #ChinaYuan #CIPS #TradeForum
They integrated with China’s Cross‑Border Interbank Payment System (CIPS) to make RMB transactions faster and lower risk.
This move slashes foreign exchange exposure for the billions of dollars in annual trade between the two nations.
Uganda imported USD 3.3 billion worth of goods from China in 2025, while exports hit only USD 118 million.
The new system helps exporters reach Chinese buyers efficiently and cuts costs for importers.
Minister of State for Industry David Bahati presided over the launch at the Stanbic–China Trade Forum in Kampala on Tuesday.
He confirmed the platform tackles long-standing payment and data challenges in the Uganda–China trade corridor.
#StanbicBank #ChinaYuan #CIPS #TradeForum