On Tuesday, 13 October 2026, Stanbic Bank Tanzania took its direct shilling-to-yuan payment service to Kariakoo, Dar es Salaam, demonstrating how traders importing goods from China can pay suppliers directly in yuan without first converting shillings into US dollars.
The activation, attended by Industry and Trade Minister Judith Salvio Kapinga (MP), saw Stanbic teams visit shops and warehouses to demonstrate the service, which aims to simplify cross-border payments and reduce currency conversion costs. Launched on 12 August 2026, the service operates through China’s Cross-Border Interbank Payment System (CIPS), making Stanbic the first bank in Tanzania to offer the facility.
