Ecobank Seeks Yuan Link to Trim Dollar Dominance in Africa Trade

Pan-African lender Ecobank Transnational Inc. is exploring ways to facilitate direct yuan payments for its clients trading with China as it seeks to boost ties with the continent’s biggest trading partner and reduce reliance on the dollar.

The bank, which has a footprint across nore than 30 African markets, seeks to integrate with China’s Cross-Border Interbank Payment System, or CIPS, which is Beijing’s global-payments solution for yuan-denominated transactions.