TANZANIA, Aug. 18 -- AS Chinas geopolitical influence expands, more entities are gaining access to its Cross-Border Interbank Payment System (CIPS), with Stanbic Bank in Ghana recently becoming a participant.

This move can play a crucial role in a broader strategy to reduce transaction costs, diversify currencies in international trade, strengthen financial connections and enhance Tanzanias capacity to attract Chinese trade and investment. The timing of this development, particularly in light of lessons from Ghana and our local circumstances, is especially noteworthy.

China remains Tanzanias leading trading partner, with bilateral trade reaching 11.28 billion US dollars in 2025. From May 2026, China provided zerotariff treatment for pro...