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New platform allows Kenyan traders to pay for Chinese goods via Alipay
Alipay's entry into the country's payments ecosystem would be a major boost for traders importing goods from China, as there is no official way to send money in Chinese yuan (CNY) to a person in China.
A cross-border payment platform focused on the Afro-Asian corridor is set to launch its system in Kenya, which would allow traders to pay for Chinese goods through the Alipay system affiliated to Jack Ma's Chinese e-commerce giant Alibaba.
This is expected to free traders from the need to buy dollars to settle transactions with their Chinese counterparts, a win for China that would allow its yuan to replace the dollar as the global currency.
