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How to Pay Chinese Suppliers Directly From Your Ghanaian Cedi Account

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A practical guide for Ghanaian importers using the new cedi-to-yuan payment route

Ghanaian importers have long faced a frustrating ritual: before paying a supplier in China, you first had to buy US dollars, route the payment through American correspondent banks, and absorb the extra fees and processing delays that came with it.

That is now changing. Ghana has introduced a direct cedi-to-yuan payment system, piloted by Stanbic Bank Ghana and announced by Bank of Ghana Governor Dr. Johnson Pandit Asiama at the 132nd Monetary Policy Committee briefing. Here is how to use it.

What You Need to Know First

What it is: A direct payment route that lets you pay Chinese suppliers from your local cedi bank account, with the supplier receiving Chinese yuan.

What it is not: A replacement for the US dollar. The dollar route, SWIFT, and transactions in euros and pounds remain fully operational. This is an alternative pathway.

Who is piloting it: Stanbic Bank Ghana. GCB is also developing a similar service.

Why it matters: China accounted for over 22% of Ghana’s imports in 2024, covering machinery, electronics, textiles, and raw industrial materials.

Step-by-Step: How to Make a Direct Cedi-to-Yuan Payment

Step 1: Confirm Your Supplier Accepts Yuan

Before anything else, check with your Chinese supplier that they are willing to receive payment in Chinese yuan rather than US dollars. Not all suppliers will be set up for this, so confirm early.

Step 2: Open or Use a Stanbic Bank Ghana Account

The pilot is running through Stanbic Bank Ghana. If you are not already a customer, you will need an account with them to access the service during this pilot phase.

Step 3: Prepare Complete Documentation

Eligible payments require complete documents. Gather your import documentation — invoices, trade agreements, and any supporting paperwork your bank requires — before submitting.

Step 4: Submit Your Payment by 2:00 p.m. GMT

This is the critical deadline. If a business submits an eligible payment with complete documents by 2:00 p.m. GMT, it can be settled by the next business day. Miss the cutoff, and your payment moves to the following cycle.

Step 5: Let the Bank Route It Through CIPS

Instead of routing money through American correspondent banks in US dollars, the transaction goes through China’s Cross-Border Interbank Payment System (CIPS). Your supplier receives the payment in yuan.

What You Save

  • No double currency conversion — you pay in cedis, your supplier receives yuan
  • Lower transaction fees — no middlemen taking a cut
  • Faster settlement — next business day if you meet the 2:00 p.m. GMT deadline
  • No dollar hunt — you no longer need to source US dollars just to pay a Chinese supplier

As Stanbic Bank Ghana CEO Mwamina Aso Manning put it: “With CIPS, businesses can access a more direct payment route to Chinese counterparties, reducing the need for US correspondent or intermediary banks.”

What Has Not Changed

  • The dollar route remains fully open
  • SWIFT continues to operate as usual
  • Transactions in dollars, euros, and pounds are unaffected
  • You can still choose your payment pathway based on trade terms, exchange rates, and cost calculations

Quick Checklist

StepAction
1Confirm supplier accepts yuan
2Ensure you have a Stanbic Bank Ghana account
3Prepare complete payment documents
4Submit by 2:00 p.m. GMT
5Payment settles via CIPS by next business day

The Bigger Picture

This banking breakthrough comes alongside China’s zero-tariff access for 53 African nations with diplomatic ties to Beijing, which took effect on May 1. Together, zero-tariff market access and direct cedi-to-yuan payments create a two-way street — making it easier to import from China while opening doors for Ghanaian exporters to reach Chinese buyers.

Challenges like logistics, product standards, and competitiveness remain. But for importers tired of chasing dollars, this is a practical step toward faster, cheaper trade.

Ghana News

Mahama to Churches: The Real Sermon Is Written After the Closing Prayer

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President John Dramani Mahama has challenged thousands of church delegates gathered in Ghana’s capital to measure the success of their global congress not by the eloquence of its sermons, but by the lives they transform after the final prayer is said.

“The lasting story of this conference, this congress, will be written in the lives that we touch after the closing prayer,” Mahama told more than 10,000 participants at the opening ceremony of the 10th Triennial Congress of the World Assemblies of God Fellowship on Wednesday, October 14, 2026.

The president urged delegates to return to their home countries with concrete plans to serve their communities — mentoring young people, supporting schools, strengthening health ministries and standing beside congregations serving under difficult conditions.

Faith Must Be Tangible

Mahama argued that faith becomes real only when it meets human need. He offered a vivid portrait of what practical Christianity looks like: a hungry child receiving a meal, a patient treated with compassion, a young person acquiring a skill, a widow finding companionship, and a struggling family receiving support from its community.

He called on the church to give greater attention to the relationship between preaching the gospel and serving people in practical ways, saying the two must not be separated.

“Spiritual authority entails a duty of care,” the president said, stressing that churches must provide safe environments for children and vulnerable people. He warned that spiritual leadership carries a responsibility to protect the trust placed in it through responsible conduct.

A Warning on Youth and Technology

Turning to youth development, Mahama acknowledged that young people today are growing up in a world of extraordinary opportunity, but also considerable pressure. Technology, he said, connects young people across continents while simultaneously exposing them to constant comparisons, misinformation and competing expectations about who they should become.

He urged churches and families to create environments where young people can ask questions freely, receive guidance, develop their abilities and take on meaningful responsibilities. Delegates, he said, should mentor young people by listening to them, offering opportunities for service and modelling integrity.

The president also called on the church to recognise the contributions of women of faith, saying their wisdom, talents and leadership deserve full recognition.

A Call for Global Solidarity

Addressing the global nature of the fellowship, Mahama expressed hope that members with greater resources would find ways to support those with fewer. The fellowship, he said, would grow stronger when its members shared their gifts and stood with one another through difficult times.

He also spoke directly to the responsibility of public office, saying those entrusted with power had a particular duty to serve with humility, honesty and integrity. Faith, he added, should deepen respect for citizens and concern for those whose voices are least likely to reach the centres of power.

Historic Honour for a Pentecostal President

At the ceremony, the World Assemblies of God Fellowship presented Mahama with its maiden Global Leadership Excellence and Trailblazer Award. The citation described him as the first member of the Assemblies of God worldwide to become president of a country — a milestone for the denomination.

Organisers also presented him with a Bible and urged him to allow the Word of God to guide his leadership.

The fellowship honoured First Lady Mrs. Lordina Mahama for her work supporting vulnerable people through her compassion ministry.

Former Malawian President Dr. Lazarus Chakwera also received the Global Leadership Excellence Award. His citation described him as the second member of the denomination — and the first minister of the gospel within the fellowship — to become president of a country.

Prayers for Wisdom and Redistribution

Following the awards, general superintendents and Ghanaian church leaders gathered around Mahama to pray for him. The prayer leader, Reverend Dominic Yeo, the fellowship’s Global Chairman, asked God to grant the president “divine wisdom” and prayed for the continuation of what he described as a reformation agenda.

He also prayed for “a redistribution of wealth throughout this nation so that all Ghanaians will be blessed,” a prayer that resonated beyond the sanctuary walls in a country where economic inequality remains a pressing concern.

A Global Gathering in Accra

The 10th Triennial Congress has drawn more than 10,000 participants to Accra, making it one of the largest Pentecostal gatherings on the continent this year. The event brings together delegates from across the global fellowship, reflecting the denomination’s growing presence in Africa and beyond.

For Mahama, however, the congress’s true significance will not be found in its attendance figures or its ceremonies — but in what delegates do once they return home.

“Faith becomes tangible,” he said, “when a hungry child receives a meal, a patient is treated with compassion, a young person acquires a skill, a widow finds companionship and a struggling family receives support from its community.”

The closing prayer, it seems, is only the beginning.

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Ghana News

OBITUARY: Gamal Gorkeh Nkrumah, Son of Ghana’s Founding President, Dies in Cairo

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Gamal Gorkeh Nkrumah, the journalist, writer, and intellectual son of Ghana’s founding president, Osagyefo Dr. Kwame Nkrumah, has died in Cairo, Egypt, following a prolonged illness. He was 67.

The Nkrumah family announced his passing in a statement released Tuesday, describing it as “a profound loss not only to our family and loved ones, but also to the wider community of friends, colleagues and readers who valued his insight, humanity and unwavering engagement with the great questions of our time.”

According to the family, Gamal Nkrumah passed away peacefully after receiving care at a rehabilitation centre, where he had been recovering from a stroke.

A Life of Intellectual Engagement

Born in 1958, Gamal Nkrumah carved out a distinct identity as a newspaper journalist and commentator, dedicating his voice and intellect to examining the political, social, and cultural forces shaping Africa and the wider world.

Throughout his life, the family said, he remained “deeply committed to the ideals of justice, human dignity, African unity and international solidarity.”

Described as a man of “profound intellectual curiosity, independence of thought and quiet conviction,” Gamal carried forward the legacy of his father in his own distinctive way, while building a reputation firmly grounded in his own principles and achievements.

His passing marks the loss of a respected voice in African journalism and intellectual life, one whose work spanned continents and engaged deeply with the pressing issues of his time.

A Family in Mourning

Samia and Gamal Nkrumah holding a photo of their parents President Kwame Nkrumah and Fatima Nkrumah. The photo of their parents was taken by photographer James Barnor while they prepared to welcome Queen Elizabeth II on her famous visit to Ghana after its independence.

Gamal was one of the acknowledged children of Kwame Nkrumah and Fathia Nkrumah. He is survived by his siblings: Samia Nkrumah (born 1960), a politician and former leader of the Convention People’s Party (CPP); Dr. Francis Nkrumah (born 1962), a paediatrician; and Sekou Nkrumah (born 1964), a politician and photographer.

The Nkrumah family remembered Gamal “with immense love, gratitude and pride,” stating that “his wisdom, kindness and devotion to the values he held dear will remain an enduring source of inspiration.”

Gratitude and Requests for Privacy

In their statement, the family expressed heartfelt appreciation to all those who stood with Gamal throughout his illness, particularly the medical professionals and caregivers in Cairo who provided him with care and dignity.

They also extended “deepest thanks” to the governments and people of his two countries, Egypt and Ghana, for their generous support.

The family has kindly requested privacy as it mourns this deeply personal loss. Details concerning memorial arrangements and opportunities to pay tribute to his life and legacy will be communicated in due course.

“May he rest in eternal peace,” the statement concluded.

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Ghana News

Ohio Court Orders Ghanaian Care Worker to Repay $53,278 After Workers’ Compensation Fraud Conviction

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Betty Boateng, 50, of Columbus, pleaded guilty to a fifth-degree felony after investigators found she collected disability benefits while working for two in-home care employers

A US-based Ghanaian woman has been ordered to repay more than $53,000 to the state of Ohio after admitting she collected workers’ compensation disability benefits while simultaneously holding paid jobs, authorities announced.

Betty Boateng, 50, of Columbus, pleaded guilty to one count of Workers’ Compensation Fraud, a fifth-degree felony, following an investigation by the Ohio Bureau of Workers’ Compensation (BWC) Special Investigations Department, the agency said in a news release dated October 9, 2026.

Investigators found that Boateng “knowingly and with fraudulent intent returned to work for two different employers during periods when she was receiving BWC disability benefits to which she was not entitled.”

Evidence gathered during the probe showed she earned wages while continuing to accept disability checks, resulting in improper payments totaling $53,278.40.

Sentencing in Franklin County

On September 23, 2026, a judge in the Franklin County Court of Common Pleas accepted Boateng’s guilty plea and proceeded directly to sentencing, ordering:

  • A 12-month suspended sentence
  • 60 months of community control
  • Mandatory reporting requirements
  • Restitution of $53,278.40 to the Ohio BWC
  • Waiver of fines, with court costs imposed

The case centered on Boateng’s work providing non-medical in-home care services for multiple employers, work she performed while receiving disability benefits she was not entitled to.

“Fraud Hurts Honest Workers”

BWC Administrator Stephanie McCloud said the agency remains committed to protecting the state’s workers’ compensation fund.

“Fraud against the workers’ compensation system hurts honest Ohio workers and employers,” McCloud said. “We are committed to holding accountable those who abuse the system and ensuring that funds remain available for individuals truly in need.”

The BWC urged anyone who knows of or suspects workers’ compensation fraud to contact its Special Investigations Department at 1-800-OHIO-BWC.

A Cautionary Tale for the Diaspora

The conviction adds to a growing list of cases involving Ghanaian nationals abroad facing fraud-related charges in the United States. Ghanaian communities in the US — particularly in cities such as Columbus, which has a sizable Ghanaian population — have increasingly been urged to understand the strict compliance rules attached to public benefit programs.

Workers’ compensation fraud in Ohio can be prosecuted as a felony depending on the amount involved, and convictions typically require full restitution in addition to any criminal penalties.

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