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News - Financial

Afreximbank is set to pioneer Africa’s use of the Chinese renminbi (RMB) in project financing

Nov 10, 2025

African Export-Import Bank (Afreximbank) is set to pioneer Africa’s use of the Chinese renminbi (RMB) in project financing after becoming a direct participant in China’s Cross-Border Interbank Payment System (CIPS)
With direct access to CIPS since June 2025, Afreximbank gains the ability to finance projects across Africa using RMB, streamlining transaction processes and cutting costs and currency exchange risks associated with cross-border trade and project finance.
Afreximbank’s successful issuance of Panda bonds on China’s capital market has diversified its funding