Chinese CIPS has become Africa’s largest SWIFT-payment alternative, manages record-high of $800 billion

Recently, some reports have come from the top largest banks of Africa which have stated that the Chinese CIPS (Cross-Border Interbank Payment System) is now handling about $800 billion worth of payments annually within Africa due to which the US dollar is being completely de-dollarized from Africa. China’s Cross-Border Interbank Payment System (CIPS). While it captures a broader trend of de-dollarization and CIPS’s growing adoption in Africa, the exact claims require some nuance based on available data as of November 2025. China’s CIPS enhances China’s “Digital Silk Road,” tying into BRI infrastructure and the digital yuan (e-CNY), with 410 million users by 2024. For Africa, it means faster access to Chinese markets but raises questions about RMB dependency. African central banks claims, CIPS will replace SWIFT soon in Africa, BRICS and other Economic bilateral relations.

CIPS vs. SWIFT in Africa (2024-2025 Data during Trump’s Tarrif War)

Recently, some reports have come that top African Sanlam Institutional Funds claim that in future, top African firms are also supporting Chinese Yuan and CIPS apart from US Dollar, BlackRock and European banks and stakes. So it has been said that the relations of top African countries like South Africa, Nigeria, Egypt, Algeria, Zambia, Sudan and the Democratic Republic of Congo are now increasing with the Chinese government, banks and financial institutions because it has been said that in future China will deliver African $10 Trillion worth Gold, Gas, Oil and Mineral exports to Western countries through CIPS. Africa has become a major destination for Chinese investments, Including Banks, loans, and aid, with a particular focus on critical minerals, Gold, Politics, natural Assets like cobalt. Recently, China has been providing billions of dollars in loans to African Union countries for critical minerals, infrastructure development, and economic diversification. China has also largely extended CIPS to African banks as the US dollar and US investment firms are now facing major conflicts in Africa.