Standard Bank authorised to clear Chinese currency in Africa

Home » Standard Bank authorised to clear Chinese currency in Africa

POSTED ON: July 6, 2026 IN Media

Standard Bank has announced that it has been jointly authorised, along with the Industrial and Commercial Bank of China Limited, to clear Renminbi in Africa. The Renminbi is the official name of China’s currency, issued by the People’s Bank of China. The units of account are more commonly referred to as Yuan, but both refer to the same currency. Economist Prof. Miriam Altman weighs in.

Credit: Newzroom Afrika

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