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Explore 'Bypassing US Dollar': Ghana Importers Gain Direct Payment Route to China | Firstpost Africa | N18G with 324,582 views, 1,675 likes, and 357 comments. Experience the impact of this video content that has captured audience attention.

Watch this video as Firstpost explains how Ghana has launched a direct Cedi-to-Yuan payment mechanism, establishing a vital trade pathway with China that bypasses the traditional US dollar intermediary. Announced by Bank of Ghana Governor Dr. Johnson Pandit Asiama, the initiative uses China's Cross-Border Interbank Payment System (CIPS). Local businesses can now pay for imports straight from their domestic Cedi accounts, with Chinese exporters receiving payment directly in Yuan. Currently piloted by Stanbic Bank Ghana—with Ghana Commercial Bank preparing to launch a similar service—the system cuts processing times to next-day delivery while reducing expensive forex conversion fees. While legacy options like SWIFT and US dollar clearing remain fully functional, this alternative offers flexibility. Coupled with Beijing’s zero-tariff policy for 53 African nations, the payment system enhances trade efficiency, creating a two-way street for imports and Ghanaian exports alike. Josh Barnes brings you more on Firstpost Africa. 00:00 Introduction 00:47 How the CIPS Direct Payment System Operates 01:16 Bank of Ghana on the Stanbic Pilot Programme 02:06 Benefits for Ghanaian Importers 02:55 Role of the US Dollar and SWIFT 03:32 China's Zero-Tariff Access for African Nations 04:13 Financial Independence and Trade Outlook --- Ghana | Ghana Cedi | Chinese Yuan | Ghana Cedi To Yuan | Ghana China Trade | Ghana China Payment System | Ghana China Trade Deal | Ghana Cedi Yuan Payments | Cedi To Yuan Payments | Ghana Yuan Payment System | Firstpost Africa | Josh Barnes | Africa | Firstpost #ghana #ghanacedi #chineseyuan #ceditoyuan #ghanachinatrade #ghanachina #cips #crossborderpayments #firstpostafrica #africa #joshbarnes #firstpost Firstpost is an Indian news and media website. Get all the incisive opinions, in-depth analyses and other visual stories that matter to you and the world right here on this channel. Subscribe to Firstpost channel and press the bell icon to get notified when we go live. https://www.youtube.com/@Firstpost Follow Firstpost on Website: https://www.firstpost.com Follow Firstpost on Instagram: https://www.instagram.com/firstpost/ Follow Firstpost on Facebook: https://www.facebook.com/firstpostin/ Follow Firstpost on X: https://twitter.com/firstpost Follow Firstpost on WhatsApp: https://www.whatsapp.com/channel/0029Va6zOIrEQIamseyg762V

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