Bank of China hosted a roadshow on the international use of the renminbi in Tanzania, East Africa recently, with the theme of "Deepen Cross-border Connectivity, Share High-quality Development Between China and Tanzania".

Over 140 guests from the Chinese embassy in Tanzania, the Bank of Tanzania, local mainstream financial institutions, and Chinese enterprises gathered to discuss topics concerning facilitating China-Tanzania win-win cooperation with RMB services — as well as deepening China-East African Community trade and investment exchanges.

The event was the 10th stop of BOC's roadshow on the international use of RMB in 2026. At the event, BOC shared insights on the current achievements in RMB's international use, RMB financing solutions for enterprises, and the RMB Cross-Border Interbank Payment System (CIPS) services for financial institutions. 

These efforts aim to provide professional support to Tanzanian financial institutions and Chinese enterprises going global in better understanding and utilizing RMB in bilateral trade and investment.

As the first Chinese-funded commercial bank to enter and operate in the African market for nearly 30 years, BOC has been a core channel for cross-border RMB services and has continuously promoted RMB use in China-Africa trade and investment — building a financial bridge for China-Africa cooperation with its high-quality financial services.

Increasing business presence throughout Africa

BOC has established its financial network covering key regions in Africa — with branches in Zambia, South Africa, Morocco, Kenya, Tanzania, Angola, Mauritius and Djibouti.

Enhancing RMB services

BOC has been appointed as the RMB clearing bank by the People's Bank of China in South Africa, Zambia, and Mauritius. It provides services such as RMB accounts opening, settlements, deposits and loans, trade financing, and currency exchanges to local enterprises, individuals, and financial institutions. 

Currently, BOC's RMB business has covered more than 20 African countries, maintaining its position as market leader in the number of CIPS direct and indirect participants in Africa.

Diversifying RMB application scenarios in Africa

As the lead underwriter, BOC assisted Egypt and the African Export-Import Bank in entering the panda bond market, filling the gap in panda bond issuance in Africa and serving the direct RMB financing needs of various issuers in the continent.

From January to July 2026, the volume of BOC's cross-border RMB settlements for Africa reached nearly RMB 70 billion, with RMB clearing volume exceeding RMB 210 billion, firmly holding a leading market position. 

Leveraging its global expertise, Bank of China will continue to establish its cross-border RMB infrastructure, enhance its financial service capabilities, promote the international use of RMB, and foster multi-field cooperation between China and Africa.