Stanbic Bank Ghana is set to launch a product capable of changing the business landscape in Ghana and on the international market forever. The product, according to the bank, will allow individuals to buy, import and pay for services in China without going through difficulties.
The Managing Director for Stanbic Bank Ghana, Kwamina Asomaning, made the disclosure in Kumasi over the weekend during the opening session of the 2026 edition of the Asantehene Invitational Golf Tournament.
He has called for solutions that will allow individuals and businesses in Ghana to access the international market without chasing foreign currencies. According to Mr Asomaning, Ghanaians will soon sit in the comfort of their homes and pay for goods and services in China through the bank’s facility using the local currency.
“As a financial institution, our primary mandate is to help businesses achieve their financial goals,” Mr. Asomaning said. As a result, the bank has established a facility called CIPS, a corridor that allows businesses in Ghana to settle suppliers and other business partners in China without necessarily getting Chinese Yuan.
“Just using one’s cedis in Ghana, businesses can pay for services or goods in China through Stanbic CIPS,” he stated. He noted that the corridor reduces the transactional cost for businesses compared to those who will settle their clients through intermediary foreign currencies.
“CIPS also reduces the turnaround time in terms of moving the funds, allowing businesses to deliver on time and thus improving business outcomes,” Mr. Asomaning stated
The MD emphasized that CIPS aims at smoothening the processes and removing the bottlenecks businesses face.
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