China’s Yuan Push Hits a Wall in Africa, And Russia’s Retreat Explains Why | Firstpost Africa | N18G

Watch this video as Firstpost explains how China and Russia have long pitched a new global financial order—one where developing economies in Africa can trade and borrow without relying on the US dollar. On paper, Beijing’s push for the Chinese yuan promises cheaper transactions and faster settlements through its CIPS payment network and new African clearing hubs. Yet in reality, de-dollarisation across Africa is stalling. From mismatched banking regulations and digital infrastructure gaps to…