Chinese currency gains popularity amid rising trade ties with Kenya

15.11.2023

The Kenya Bankers Association (KBA) said Wednesday that the Chinese currency renminbi, or the yuan, is gaining popularity among commercial lenders due to the rising Sino-Kenyan trade ties.

Habil Olaka, chief executive officer of KBA, told Xinhua in Nairobi, the capital of Kenya, that the yuan is emerging as an alternative...