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NAIROBI: The cost of doing business on the Kenya-China Trade corridor is expected to drop following the ongoing internationalisation of the Renminbi (RMB). Standard Chartered CEO for East Africa Lamin Manjang says so far the adoption of RMB by local companies and traders is gradual, but positive.
Speaking on Monday night when the bank hosted clients ahead of Chinese New Year celebrations, Mr Manjang said the volume of trade between Kenya and China is expected to increase due to the elimination of the foreign exchange costs associated with settlement of trade obligations.
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