Zambia News

UPND Secretary General Expresses Gratitude to Chinese Communist Party

Batuke Imenda, the Secretary General of the United Party for National Development (UPND), extended his appreciation to the Chinese Communist Party (CCP) for its efforts in bolstering relations with Zambia’s ruling party.

Imenda stated that the UPND seeks to learn from the CCP due to its extensive experience and status as one of the largest political parties globally. He further conveyed gratitude to the CCP for organizing cultural exchange visits, providing UPND members with opportunities to immerse themselves in Chinese culture and political history during recent visits to China.

These sentiments were expressed during a meeting between Imenda and Li Mingxiang, the Chinese Deputy Minister in the International Department of the CCP Central Committee, held at the UPND Secretariat in Lusaka.

Collins Maoma, the acting National Chairman of the UPND, also spoke at the meeting, expressing appreciation to China for its assistance in restructuring Zambia’s debt.In response, Li emphasized that his visit aimed to strengthen relations with the UPND, particularly following President Hakainde Hichilema’s visit to China in 2023. He expressed satisfaction with the consensus reached between the two parties to enhance engagement.

Li reiterated the CCP’s commitment to utilizing various avenues of cooperation, including cultural exchange visits, to foster stronger ties between the two political entities.

The meeting underscored the ongoing efforts to enhance bilateral relations between Zambia and China, with both parties expressing mutual interest in furthering cooperation across multiple fronts.

Source: Lusakatimes

In other news – HSBC agrees to sell off its Argentina business

Banking giant HSBC is selling off its business in Argentina at a $1bn (£790m) loss after years of battling with the country’s unstable exchange rate. HSBC Argentina, which has more than 100 branches and 3,100 employees, will be bought by Grupo Financiero Galicia, a major private financial group.


Annual inflation in Argentina hit 276.2% last month, the highest in the world. Five years ago, $1 would buy 43 pesos. It is now worth more than 860 pesos. Read more

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