WIRE — China has approved Standard Bank Group and the Industrial and Commercial Bank of China (ICBC) to operate Africas first Renminbi (RMB) clearing hub, a move expected to make trade and cross-border payments between China and African countries faster, cheaper and more efficient. The approval, granted by the Peoples Bank of China, will allow businesses to [...] The post China approves Africas first yuan clearing hub to boost Kenya-China trade appeared first on Kahawatungu.
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