Standard Chartered unveils China-Kenya trade corridor to boost SME growth

The initiative, unveiled in Nairobi on Tuesday, is designed to simplify cross-border trade by offering businesses tailored financing, multi-currency solutions and streamlined cash management across multiple markets.

The bank says the move is part of its broader strategy to strengthen China-Africa trade ties and equip SMEs with practical financial tools to operate in increasingly complex global markets.

“Trade between China and Africa continues to deepen, driven by strong business links and evolving supply chains. This launch reflects our commitment to helping SMEs expand internationally,” said Richard Li.

“We are seeing growing demand for efficient multi-currency solutions, particularly as Renminbi adoption increases. Both our global network and local expertise help clients simplify trade, improve working capital and unlock new opportunities.”

According to the bank, the trade between Kenya and China has continued to grow, with China remaining Kenya’s largest trading partner, accounting for 22.7 per cent of imports in the first half of 2025.

Bilateral trade hit USD 2.2 billion in the first quarter alone, with recent policy shifts such as China granting 98 per cent duty-free access to Kenyan exports expected to accelerate growth.

Chinese investments in Kenya have also increased, particularly in infrastructure, manufacturing and industrial parks, further strengthening economic ties between the two countries.

The lender says the new corridor will enable businesses to move capital faster, reduce transaction costs and access new markets through its network spanning Asia, Africa and the Middle East.

“Kenya is a key gateway to East Africa, with strong growth in trade and investment flows with China. This launch strengthens our support for SMEs with practical, accessible financial solutions,” said Edith Chumba.

The launch comes amid rising demand for efficient currency management, as businesses increasingly operate across multiple markets.

While China accounts for more than 15 per cent of global trade, less than 5 per cent is settled in Renminbi, presenting opportunities for firms to better align trade and currency use.

Standard Chartered says increased adoption of the Chinese currency could help businesses reduce foreign exchange costs, improve cash flow and enhance resilience in an uncertain global environment.