• Standard Bank has gone live as the first African bank with direct access to China’s Cross‑Border Interbank Payment System (CIPS), allowing direct Renminbi (RMB) payments between African businesses and Chinese partners.
• China has extended zero‑tariff treatment to cover 100 percent of tariff lines for all 53 African countries with diplomatic ties, opening its entire market to African exports.
• The overlap of instant RMB settlement and full tariff removal is reshaping how African exporters, especially SMEs, sell into a consumer base of about 1.4 billion people.

Historic payment shift reshapes Africa China trade

Two big moves have just converged in a way that African exporters have been waiting for. Standard Bank has gone live on China’s Cross‑Border Interbank Payment System as the first African bank to offer the service, giving businesses direct access to RMB payments without routing through third‑party correspondent banks. At almost the same time, China has confirmed that its zero‑tariff policy now covers 100 percent of tariff lines for all 53 African countries that maintain diplomatic relations with Beijing, not just the least developed ones.

Standard Bank’s own announcement describes the CIPS rollout as a “seminal touchpoint” for how African payments into China will work from here on, with interbank payments settled directly in RMB and no need to hop across multiple currencies or time zones anymore according to the bank. Anne Aliker, Group Head of Client Coverage at Standard Bank Corporate and Investment Banking, has underlined that the bank is “excited to be the first bank on the continent that offers CIPS transactions” and that this shows its “commitment and ability to deliver innovative solutions” across Africa.

Standard Bank’s direct RMB payments go live

Standard Bank secured approval as a direct participant in CIPS in June 2025 at the Lujiazui Forum in Shanghai and has now officially launched CIPS clearing and settlement services, with the go‑live marked at a ceremony hosted by the South African Reserve Bank on 20 November 2025 as detailed in the bank’s communication. The system allows participating African banks and financial institutions to clear and settle cross‑border payments directly with Chinese counterparts in RMB, cutting out layers of conversion and intermediary fees.

In practical terms, that means an exporter in Lagos, Nairobi, or Johannesburg can now receive RMB directly through Standard Bank’s channels, rather than relying on US dollar or euro legs that add cost and delay. Crosby Mkhwanazi, Head of Client Coverage at Standard Bank CIB, explains that CIPS will let clients “optimise their operations” by integrating more closely with a key trading partner and speeding up transaction clearance in the bank’s release.

China’s zero tariffs open the door for all 53 African partners

On the policy side, Beijing has now pushed its tariff cuts all the way. Effective 1 December 2024, China granted zero‑tariff treatment on 100 percent of products from least developed countries with which it has diplomatic ties, including 33 African nations. In 2025, this has been extended to cover the full range of tariff lines for all 53 African countries that recognise Beijing, bringing middle‑income economies like Egypt, Nigeria and South Africa fully into the scheme according to Chinese government communications and further explained by the China International Import Expo bureau here.

Chinese analysts describe this as the first time a 100 percent tariff‑free offer has been extended across so many nations at once. Professor Zhang Chuanhong of China Agricultural University notes that “whether resource‑rich, agriculture‑based, or industrially underdeveloped, African countries can leverage the zero‑tariff policy to boost exports, develop their industrial and value chains, and accelerate local economic growth” as cited by the CIIE bureau.

Why the timing matters for African exporters

The sequencing here really matters. Trade data from Standard Bank’s Trade Barometer shows that 34 percent of the African businesses it surveyed in 2024 were already sourcing imports from China, up from 23 percent in May 2023 according to the bank. China has been Africa’s largest trading partner for sixteen straight years, with total trade reaching about 295.6 billion US dollars in 2024 on official figures.

Now combine that with full tariff removal. Goods coming from 53 African countries can enter China duty‑free, while payments for those same goods can be settled directly in RMB through an African bank that understands local risk and regulation. Sithembile Dlamini, Head of Africa China Banking at Standard Bank, has described the bank’s Africa China Trade Solutions as “comprehensive guides” that bundle financial solutions, trade facilitation and market access support under one umbrella. The new CIPS capability plugs into that toolkit and shortens the path from order to cash.

Beyond tariffs, tackling non‑price barriers and paperwork

Even with tariffs at zero, exporters still have to deal with customs, logistics, quality checks and certification. The Chinese side has been widening “green channels” for African agricultural products and promoting African participation at events such as the China International Import Expo, which is becoming a showcase for African brands looking for Chinese distributors as official briefings show.

Standard Bank’s long‑running partnership with ICBC gives it extra reach into Chinese banking and corporate networks. That helps smaller firms that would normally struggle to navigate standards, packaging rules or inspection regimes. The bank is positioning itself as a bridge that can match African producers with vetted buyers, structure trade finance lines, and use tools like Sinosure cover and the China‑Africa Development Fund to de‑risk deals that were previously too complex or too expensive.

African SMEs and the 1.4 billion customer opportunity

For small and medium‑sized enterprises, the opening is very real. Chinese government data shows that from the Forum on China‑Africa Cooperation summit in Beijing in September 2024 through March 2025, Chinese companies invested 13.38 billion yuan in Africa and extended 2.08 billion yuan in loans to around 350 SMEs, supporting roughly 4,500 jobs in the process