Companies from Mozambique can start paying their Chinese suppliers in yuan via banks in China, following the launch of a new offshore yuan clearing service, online news portal Macauhub reported. 

Société Générale Moçambique is the first Mozambique financial institution to link with such a yuan clearing service, according to a statement it sent to the media outlet.

The service was launched this month, according to the report. It allows payments to be completed in a “fast” and “safe” way, at “low cost,” Macauhub said.

The bank said the service was initiated following the growth of trade between Mozambique and China. The institution also said it had hired a Chinese business manager who would focus on clients from China and help them develop their businesses in the African nation.