China Moves Deeper into African Banking

 Uganda's The Observer published on 5 December 2025 an article titled "China's Payment System Gains Ground in Africa as Afrexim, Standard Join In."

Afreximbank, Africa's multilateral trade bank, became the first major African institution to join China's Cross-Border Interbank Payment System (CIPS), enabling direct and cheaper yuan transactions.  Standard Bank Group, the continent's largest lender, followed suit.  CIPS gives China an alternative to the Western world's SWIFT. 

The Industrial and Commercial Bank of China (ICBC) owns 20 percent of the Standard Bank Group while the Export-Import Bank of China holds at least 6 percent of Afreximbank.   

Standard Bank Economic Analysis of African Issues

The 5th BRICS summit will take place in Durban, South Africa, 25-27 March 2013.  Standard Bank of South Africa, which is now owned 20 percent by China, has a strong research unit that produces good analysis on a variety of African economic issues.  On 12 February 2013, for example, it released one called "BRICS Trade is Flourishing, And Africa Remains a Pivot."

You can access this and other Standard Bank research reports free of charge by registering here.

China-Africa Trade May Reach $200 Billion in 2012

Standard Bank of South Africa announced on 3 December 2012 that total China-Africa trade may reach $200 billion in 2012, up from $166 billion in 2011. China now accounts for 20 percent of Africa's trade and Africa is China's fastest-growing export destination.

China also increased imports from Africa in 2012; most of the increase was oil from Angola. China's imports of African iron ore were flat while imports of copper, steel and aluminum fell sharply.

Click here to read the brief analysis by Standard Bank.