On July 31, Stanbic Bank, in partnership with the Industrial and Commercial Bank of China (ICBC), held a “China Day” event to introduce the Cross-border Interbank Payment System (CIPS) to Chinese enterprises operating in Kenya. Ambassador Guo Haiyan was invited to attend the event and deliver a speech. Representatives from Stanbic Bank and ICBC, as well as Chinese enterprises attended.

In her speech, Ambassador Guo noted that as China–Kenya economic and trade cooperation continues to expand, enterprises in both countries have a growing demand for efficient cross-border settlement and supporting financing services. The continued expansion of CIPS across Africa demonstrates China’s firm commitment to deepening China–Africa financial cooperation. We look forward to Stanbic Bank and ICBC fully leveraging their role as the RMB clearing bank for Africa to help more enterprises and financial institutions in Kenya better understand CIPS. We look forward to all parties further broadening the use of the RMB in cross-border settlement, strengthening the RMB financial services ecosystem, and safeguarding the security of cross-border financial activities.

The event also featured a launch ceremony marking Stanbic Bank Kenya’s connection to CIPS and celebrating the successful completion of Kenya’s first CIPS transaction.