Ecobank Group has signed a memorandum of understanding with Bank of China (Mauritius) Limited to deepen cooperation in trade finance, payments and financial services aimed at supporting economic activity between China and Africa.
According to the pan-African banking group, the agreement builds on a partnership established in 2010 and follows renewed engagement between the two institutions earlier this year, including a recent visit by Ecobank Group’s leadership to Bank of China’s headquarters.
Under the memorandum, the two banks will explore closer collaboration aligned with the objectives of the China–Africa Cooperation Forum, with a focus on strengthening trade finance and cross-border settlement.
As part of the initiative, Ecobank Group and Bank of China (Mauritius) will leverage their respective capabilities to provide Renminbi (RMB) solutions for African corporates, Chinese enterprises and cross-border traders, with the aim of improving settlement efficiency and access to financing.
The partnership will also see both institutions share knowledge and technical expertise on banking operations and financial sector developments to support sustainable trade and economic growth. In addition, the banks will explore opportunities to jointly structure syndicated loans and other financing solutions for projects involving Chinese stakeholders in African markets.
The Chief Executive Officer of Ecobank Group, Jeremy Awori, stated that the agreement reflects the growing scale of China–Africa commerce and the increasing need for reliable financial infrastructure.
“China-Africa economic ties continue to expand, and our customers on both sides rely on efficient and transparent financial solutions. This renewed partnership with Bank of China will help deliver concrete results in trade finance, payments and Renminbi capabilities. We look forward to integrating this cooperation across our network to better serve clients and strengthen the broader China-Africa economic corridor,” he said.
Ecobank further stated the agreement supports its wider strategy to reinforce Asia–Africa payments and trade corridors through partnerships, with the broader goal of advancing financial integration and economic development across the continent.
