Use of RMB to accelerate trade between China and Kenya

Trade between China and Kenya has continued to grow steadily. Data from the Chinese embassy in Nairobi indicates that in 2014 total bilateral trade between Kenya and China reached 5.09 billion U.S. dollars, a 53 percent increase from the previous year.

To boost this trade Kenya’s banking sectors is creating a good environment for this trade to run smoothly. National bank is among the first to launch a Chinese business unit. This was during the opening of the bank’s premium branch in Nairobi on Wednesday

Kenya banking giants, are in agreement that the Chinese Renmibi should be internationalized in order to increase trade with China within the region.

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