Standard Bank offers Africa yuan bank accounts

"Trade with China and Africa has seen massive growth in the last decade and Standard Bank, with its African roots, is uniquely placed to assist in the two-way trade flows between China and Africa," its China chief executive, Craig Bond, said.

The ability to transact in yuan applies to all of the 17 countries where Standard Bank, the continent's largest bank by assets, has a presence and reduces companies' exposure to fluctuations in the value of the dollar, the company added.