XTransfer, a B2B cross-border trade payment platform from China, and Ecobank Group, a private pan-African financial services provider, have signed a MoU to offer comprehensive cross-border financial services to Africa’s SMEs involved in foreign trade.
This collaboration aims to facilitate trade between China and African countries.
The partnership will enable XTransfer to leverage Ecobank’s extensive African network, allowing Chinese clients to collect funds in local currencies and helping African SMEs make payments in local currencies to avoid foreign exchange problems.
Bill Deng, Founder and CEO of XTransfer, commented,
“This collaboration represents a significant milestone for XTransfer and enhances our global payment capabilities. We look forward to the synergies this partnership will create, driving innovation and improving the financial landscape for African SMEs.”
Jeremy Awori, CEO of Ecobank Group, added,
“This builds on our strategy, which includes a representative office in China and a dedicated China desk. By integrating XTransfer’s solutions with our pan-African platform, we aim to simplify payments, reduce transaction costs, and support African businesses in global trade.”
This partnership will ease trade between Chinese and African SMEs, streamline foreign trade transactions, and help reduce global trade costs, ultimately enhancing the global competitiveness of African SMEs.
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