{"id":7028771,"date":"2026-08-05T16:05:18","date_gmt":"2026-08-05T16:05:18","guid":{"rendered":"https:\/\/peraltafinancing.com\/uncategorized\/stanbic-uganda-launches-payments-system-to-ease-trade-with-china\/"},"modified":"2026-08-05T16:05:18","modified_gmt":"2026-08-05T16:05:18","slug":"stanbic-uganda-launches-payments-system-to-ease-trade-with-china","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=7028771","title":{"rendered":"Stanbic Uganda launches payments system to ease trade with China"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><b>Kampala, Uganda \u2014<\/b><span style=\"font-weight: 400;\"> Stanbic Bank Uganda has become the first financial institution in the country to integrate with China\u2019s Cross-Border Interbank Payment System (CIPS), enabling Ugandan businesses to make direct, faster, and lower-risk payments in Chinese Yuan (RMB).\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The move is expected to significantly cut foreign exchange exposure and streamline settlement for the billions of dollars in annual trade between the two countries.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Uganda imported <\/span><b>USD 3.3 billion<\/b><span style=\"font-weight: 400;\"> worth of goods from China in 2025, compared to <\/span><b>USD 118 million<\/b><span style=\"font-weight: 400;\"> in exports. The new system is expected to help exporters to access Chinese buyers more efficiently and reduce the cost of doing business for importers.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Presiding over the launch at the inaugural Stanbic\u2013China Trade Forum in Kampala on Tuesday, <\/span><b>Minister of State for Industry David Bahati<\/b><span style=\"font-weight: 400;\"> said the platform addresses long-standing payment and data challenges in Uganda\u2013China commerce.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cChina is one of Uganda\u2019s most significant bilateral partners. This solution removes key bottlenecks and opens practical pathways for deeper industrial and commercial collaboration,\u201d Bahati said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Globally launched by the People\u2019s Bank of China in 2015, CIPS is the official clearing and settlement infrastructure for cross-border RMB transactions.\u00a0<\/span><\/p>\n<p><b>Andrew Mashanda<\/b><span style=\"font-weight: 400;\">, Standard Bank Group\u2019s Head of Business and Commercial Banking for Africa Regions and Offshore, said the development aligns with their broader strategy to power the continent\u2019s economic trajectory with trade being a key driver.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">\u201cAfrica\u2013China trade has been a key driver of growth across the continent. The next chapter will be defined not just by trade volumes, but by what we build together \u2014 manufacturing capacity, value addition, and infrastructure,\u201d Mashanda said.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With Uganda increasingly becoming a gateway into East Africa\u2019s fast-growing regional economy, Mashanda said, \u201cWe must continue unlocking investment opportunities for Chinese partners and create an environment conducive to shared prosperity.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The availability of CIPS in Uganda, Stanbic Bank Uganda Chief Executive <\/span><b>Mumba Kalifungwa<\/b><span style=\"font-weight: 400;\"> said, marks a major step in modernising trade facilitation and reducing reliance on intermediary currencies.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">\u201cThe system will give Ugandan businesses a competitive edge and significantly contribute to government\u2019s efforts to grow the economy ten times to reach USD 500 billion by 2040,\u201d said Kalifungwa, adding that direct RMB settlement through CIPS reduces FX volatility, speeds up transactions, and strengthens commercial ties with Chinese companies.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Ugandan traders importing from China will also benefit from Stanbic Bank\u2019s partnership with \u2018<\/span><b>Guomao\u2019 <\/b><span style=\"font-weight: 400;\">a platform linking local businesses to one of Beijing\u2019s major trading districts to expand sourcing and market access opportunities.<\/span><\/p>\n<p>\u00a0<\/p>\n<p> <span style=\"font-weight:bold\">Do you have a story in your community or an opinion to share with us:  Email us at <a href=\"https:\/\/www.watchdoguganda.com\/sendastory\">Submit an Article<\/a> <\/span> <\/div>\n\n","protected":false},"excerpt":{"rendered":"<p>Kampala, Uganda \u2014 Stanbic Bank Uganda has become the first financial institution in the country to integrate with China\u2019s Cross-Border Interbank Payment System (CIPS), enabling Ugandan businesses to make direct, faster, and lower-risk payments in Chinese Yuan (RMB).\u00a0 The move is expected to significantly cut foreign exchange exposure and streamline settlement for the billions of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7028772,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[88],"tags":[6618,19742,10851,15676,192584,2345,9792,18994],"dealstore":[],"offerexpiration":[],"class_list":["post-7028771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-china","tag-ease","tag-launches","tag-payments","tag-stanbic","tag-system","tag-trade","tag-uganda"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.4 - 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