Tanzanian Banks Facilitate Payments with China

This month two prominent Tanzanian banks introduced new services to facilitate payment to and from China hence favour Sino-Tanzanian trade.

National Bank of Commerce (NBC) clients can now pay Chinese suppliers directly in Yuan Renminbi (CNY).

This will reduce cost of trade by waving currency exchange fees.

Meanwhile CRDB Bank is now accepting China Union Pay, the most widespread payment card in China.