Standard Bank to enable direct payments with China
Standard Bank Namibia has officially launched its Cross-Border Interbank Payment System (CIPS) capability, becoming the first bank in Namibia to offer clients direct access to China's payment infrastructure.
Staff Writer
Standard Bank Namibia has officially launched its Cross-Border Interbank Payment System (CIPS) capability, becoming the first bank in Namibia to offer clients direct access to China’s payment infrastructure.
The launch follows Standard Bank Group becoming the first African bank authorised to participate in CIPS in November 2025 and, more recently, the first African-based bank jointly authorised with the Industrial and Commercial Bank of China (ICBC) to clear Renminbi (RMB) transactions across Africa as the Renminbi Clearing Bank of Africa.
The milestone strengthens financial connectivity between Namibia and China, enabling faster, more efficient and cost-effective cross-border payments for businesses trading and investing between the two countries.
