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Ecobank Taps Yuan Payments as It Eyes Africa’s Trade With China
Source: Bloomberg
Currency & FXBanking & LiquidityEmerging Markets
Ecobank Transnational is stepping up efforts to facilitate direct yuan payments for clients trading with China. The pan-African lender says the initiative is intended to strengthen ties with Africa’s largest trading partner and reduce reliance on the U.S. dollar; no figures or expected financial impact were reported.
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