GCB Bank PLC has signed a historic agreement with UnionPay International in Shanghai, China, launching Ghana’s first Yuan-denominated prepaid card to streamline trade and financial transactions between the two nations.
The financial innovation is expected to significantly reduce reliance on intermediate currency conversions, allowing Ghanaian traders, entrepreneurs, and travellers to execute direct Yuan payments across point-of-sale systems, quick response codes, automated teller machines, and various merchant channels throughout China.
During the signing ceremony, the Managing Director of GCB Bank, Farihan Alhassan, emphasised the institution’s ongoing commitment to opening global markets for local commerce while deepening economic ties between Ghana and China.
The landmark event brought together key executives from both institutions.
The Ghanaian delegation included GCB Board Chairman Professor Joshua Alabi, Board Member Dr Abdulai Alhassan, Head of State-Owned Enterprises and Afro-Asia Banking Auriela Baaba Odame, and Chief of Staff Abraham Ferguson.
UnionPay International was represented by its Deputy Chairman and Chief Executive Officer, Larry Wang, alongside Feng Chen, Deputy General Manager of the Africa Branch, and Yunfeng Gao, Deputy General Manager of Innovative Product Development.
Other officials present at the launch included Chuang Li, Bright Agbottah, Siyao Zhang, Yiliu Liu, Dantong Yin, and Yichen Qian, marking a unified commitment to expanding cross-border payment efficiency.
By: Rainbowradioonline.com/Ghana