Reuters published on 26 June 2026 an article titled "China Approves Standard Bank, ICBC for Africa Yuan Clearing" by Colleen Goko.
China's central bank authorized South Africa's Standard Bank and the Industrial and Commercial Bank of China (ICBC) to clear Renminbi across Africa, as Beijing steps up efforts to promote the global use of its currency. Standard Bank and ICBC will operate jointly as the "Renminbi Clearing Bank of Africa" with authority to clear the currency in 19 African countries.
