In a significant move to bolster economic links between Africa and China, Ecobank Group has entered into a new strategic agreement with Bank of China (Mauritius) Limited. The two financial institutions signed a Memorandum of Understanding (MoU) on 24 December 2025, aiming to deepen their collaboration in areas critical to cross-border commerce, including trade finance, payment systems, and broader financial services.
Building on a Long-Standing Partnership
This new agreement is not the beginning of the relationship but a major reinforcement of it. The partnership between Ecobank and Bank of China was first established back in 2010. The latest MoU follows renewed engagement earlier this year, which included a visit by Ecobank Group's top leadership to the headquarters of Bank of China.
Both banks have committed to moving beyond the memorandum to achieve practical results that will directly benefit their clients across Africa and China. They agreed to reinforce their long-standing ties and work towards tangible outcomes.
Key Areas of Collaboration and Strategic Goals
The core of the partnership will focus on several strategic initiatives designed to streamline and finance China-Africa trade. The collaboration is aligned with the broader objectives of the China-Africa Cooperation Forum.
The institutions will leverage their combined strengths to provide more efficient Renminbi (RMB) solutions. This means African corporations, Chinese enterprises, and cross-border traders can expect better settlement and financing options. Furthermore, the banks will share technical expertise and knowledge on banking operations to support sustainable economic growth.
Another critical area of focus will be exploring opportunities for joint syndicated loans and other tailored financing solutions for projects in African markets that involve Chinese stakeholders.
Leadership Perspectives on the Deal
The Chief Executive Officer of Ecobank Group, Jeremy Awori, emphasised the timing and importance of this strengthened alliance. He stated that the agreement highlights the growing significance of China-Africa trade and the urgent need for reliable financial infrastructure to support the expanding commercial flows between the two regions.
"Economic ties between China and Africa have continued to deepen, with customers on both sides increasingly relying on efficient and transparent financial solutions," Awori noted.
He explained that the renewed partnership is expected to deliver concrete benefits in trade finance, payments, and Renminbi services. The collaboration will be integrated across Ecobank's vast pan-African network to better serve clients and reinforce the broader China-Africa economic corridor.
Awori also connected this deal to Ecobank's larger strategy, which includes other recent partnerships, to strengthen the Asia-Africa payments and trade corridors. The ultimate goal, he stated, is to expand partnerships that advance financial integration and spur economic development across the African continent.
