GCB Bank PLC, Ghana’s largest bank, has announced a partnership with UnionPay International to issue UnionPay debit and prepaid cards that settle directly in Renminbi (RMB). The deal was formally unveiled during a ceremony at UnionPay International’s Shanghai headquarters, where representatives from the Bank of Ghana were also present.
This marks UnionPay’s first ever RMB payment card that uses the Chinese currency for clearing and settlement, a move that is expected to streamline transactions for Ghanaian merchants and travelers engaging with China’s market. The launch comes at a time when China‑Ghana trade has surged, with 2025 trade volume reaching US$14.1 billion, a 19.3 % rise year‑on‑year, and China remaining Ghana’s top trading partner.
According to the Ghana Tourism Authority’s 2025 Tourism Report, the country welcomed 1.307 million international visitors, 31 % of whom were business travellers. China ranks as Ghana’s sixth‑largest source market, with nearly 20,000 arrivals annually, while over 9,000 Ghanaians travelled to China in 2023 for trade, business, official delegations and study, and about 4,600 Ghanaian students are enrolled in Chinese institutions.
The new UnionPay card eliminates foreign exchange hurdles by allowing Ghanaian users to make point‑of‑sale payments, withdraw cash at ATMs and conduct online transactions across China without intermediate currency conversions. This is particularly useful for Ghanaian merchants who travel to China annually to source goods, raw materials and machinery.
Mr. Farihan Alhassan, Managing Director of GCB Bank PLC, said: “For Ghanaian businesses trading with China, making payments should be a straightforward part of doing business. Our partnership with UnionPay International will enable customers to pay directly in RMB, reducing the need for intermediate currency conversions and making it easier to manage payments during procurement and business trips. This reflects GCB’s commitment to supporting the ambitions of Ghanaian businesses, connecting them to global opportunities and strengthening trade ties between Ghana and China.”
Mr. Feng Chen, General Manager of UnionPay International Africa Branch, added that the partnership reflects deep mutual trust and reaffirms UnionPay’s commitment to secure, efficient and cost‑effective payment solutions while enhancing payment connectivity between China, Ghana and global markets.
GCB Bank, listed on the Ghana Stock Exchange and operating 183 branches and 340 ATMs nationwide, has long focused on national financial inclusion and facilitating international trade. UnionPay International, which enables card acceptance in 183 countries and partners with more than 2,600 institutions worldwide, will now offer its secure cross‑border payment services to GCB’s millions of clients.
As the partnership goes live, Ghanaian businesses and travellers can expect smoother, cheaper transactions in China, potentially boosting trade flows and reinforcing the growing economic ties between the two countries.
