Stanbic Bank Tanzania’s launch of a direct Renminbi (RMB) settlement service could lower payment barriers for businesses trading with China and support Tanzania’s ambitions to expand exports...
By
Josephine Christopher
Josephine Christopher is a senior business journalist for The Citizen and Mwananchi newspapers
Mwananchi Communications Limitted
Dar es Salaam. Stanbic Bank Tanzania’s launch of a direct Renminbi (RMB) settlement service could lower payment barriers for businesses trading with China and support Tanzania’s ambitions to expand exports, industrialise and integrate into global value chains, government and financial sector officials have said.
Stanbic Bank Tanzania launched direct yuan settlement on Aug. 12, 2026, letting businesses trade with China without converting…
China's currency, the renminbi (RMB), is playing a bigger role in Africa as trade with the continent flourishes. From the launch…
By VICTOR RABALLA in Nairobi, Kenya |
Tanzanian businesses importing from China can now pay suppliers directly from their Tanzanian shilling accounts in Chinese yuan,…
Stanbic Bank Tanzania has secured a Sh70 billion facility to expand lending to small and medium-sized enterprises (SMEs),…
Stanbic Bank Tanzania and Visa have intensified efforts to expand secure cross-border digital payments, reporting a sharp…
