Stanbic Bank Kenya has launched Renminbi (RMB) payment processing through China’s Cross-Border Interbank Payment System (CIPS), enabling businesses to make faster, more transparent and more efficient cross-border payments between Kenya and China.
The service was unveiled during Stanbic Bank Kenya’s 2026 China Day, which brought together Chinese investors, diplomats, business leaders and trade partners to explore opportunities for strengthening Kenya-China economic cooperation. The launch positions Stanbic Bank Kenya among the leading financial institutions supporting direct RMB settlement for businesses trading with China.
According to the bank, the new capability allows clients to process payments directly through CIPS, the People’s Bank of China’s official cross-border RMB clearing and settlement system. Businesses will benefit from faster payment processing, improved transaction visibility and traceability, reduced reliance on correspondent banking networks and greater settlement efficiency.
The launch builds on Standard Bank Group’s long-standing partnership with the Industrial and Commercial Bank of China (ICBC) and its authorization to clear RMB transactions in Africa. The group recently announced it had processed more than CNY 8 billion (approximately US$1.2 billion) in transactions through CIPS, reflecting growing demand for RMB settlement across Africa-China trade.
Stanbic Bank Kenya said the service comes as trade between Africa and Asia continues to grow, with China remaining Kenya’s largest trading partner. The bank believes direct access to RMB settlement will help businesses trade with greater speed, efficiency and confidence while supporting deeper commercial ties between Kenya and China.
