Ecobank Group has strengthened its commitment to supporting African businesses, including SMEs, by signing a memorandum of understanding with Bank of China (Mauritius) Limited. The partnership is designed to improve trade finance, cross-border payments, and financial services that facilitate economic activity between Africa and China.
China remains Africa’s largest trading partner, with bilateral trade surpassing $314 billion in the first 11 months of the year an increase of 17.8 per cent from the previous year. Chinese exports to Africa rose 26.3 per cent, while imports from the continent increased 5.2 per cent, highlighting the growing importance of efficient financial infrastructure to support these transactions.
Speaking on the MoU, Ecobank Group CEO Jeremy Awori said the agreement will provide African and Chinese businesses with faster, more reliable payment solutions and expanded access to trade finance. “Our collaboration with Bank of China will deliver practical solutions in payments and Renminbi capabilities, helping clients across our networks transact efficiently while strengthening the broader China-Africa economic corridor,” he said.
The MoU builds on a partnership that began in 2010 and focuses on delivering tangible benefits to businesses across Africa. Both banks will explore joint opportunities in trade finance, syndicated loans, cross-border settlement, and knowledge sharing on banking operations. These efforts are expected to improve access to funding and simplify financial transactions for SMEs, giving smaller businesses a stronger foothold in international trade.
The partnership also aligns with the objectives of the China-Africa Cooperation Forum and Ecobank’s broader strategy to reinforce Asia-Africa trade and payment corridors. By offering innovative financial solutions and supporting cross-border commerce, the MoU positions African SMEs to tap into growing trade opportunities, ultimately driving economic growth across the continent.
This collaboration comes as Ecobank celebrates 40 years of operations, marking four decades of delivering financial solutions that empower African businesses and communities. The new agreement with the Bank of China demonstrates the bank’s ongoing commitment to facilitating trade, investment, and sustainable growth for African enterprises.
