China has launched its yuan-based Cross-Border Interbank Payment System (CIPS) across Africa, partnering with major banks like the African Export-Import Bank and South Africa’s Standard Bank. This move allows direct yuan transactions, bypassing the traditional SWIFT system and cutting clearance times dramatically. In 2024, CIPS processed a staggering ¥175 trillion ($24.4 trillion), reflecting a rapid 43% growth. As Africa rolls out its own payment solutions like PAPSS, reducing intra-continental payment costs from 30% to 1%, China’s CIPS introduces a powerful yuan alternative, challenging U.S. dollar dominance and reshaping global trade dynamics. Is Africa gaining financial independence, or is it becoming more entwined with China’s economic sphere? Watch to discover the real game behind this payment revolution. #chinaafrica #paymentrevolution #cips #globalfinance #YuanPayments #AfricaEconomicGrowth
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00:00:00 China’s African Payment Revolution
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