Bank of Ghana Governor Johnson Asiamah said on the 24th the central bank will
work with China to promote settling bilateral trade in local currencies to
remove reliance on third‑party currency conversion. Ghana is building a
cedi–renminbi cross-currency settlement corridor to eliminate double FX
conversions and extra fees, and the central bank has approved a pilot direct
cedi–RMB settlement system with Stanbic Bank Ghana (Standard Bank’s Ghana unit)
and Ghana Commercial Bank. Asiamah said the Bank of Ghana plans to discuss
monetary and financial support with the PBOC at the upcoming IMF and World Bank
annual meetings to facilitate implementation of China’s zero‑tariff policy for
53 African countries.
