Business News Zambia Newspaper

China Key Partner in Zambia's Recovery from COVID-19 Pandemic A Zambian economist has hailed China as a crucial partner in developing countries' recovery from the COVID-19 pandemic. Trevor Hambayi, a PhD research fellow with the The University of Bolton, praised China's efforts in supporting African countries, including Zambia, in their economic development and debt restructuring. In an interview with Xinhua, Hambayi noted that Western countries' response to the pandemic, which involved pouring large amounts of money into markets, has led to inflation surges and economic turmoil. In contrast, China's approach has been more measured and focused on supporting infrastructure development in Africa. "China has been a key financier of infrastructure development in Africa in the last 10 to 15 years, as evidenced in many infrastructure projects in different parts of the continent," Hambayi said. He cited China's role as co-chair of the creditors committee on Zambia's debt restructuring as a prime example of its commitment to supporting African countries. Hambayi's comments come at a time when Zambia is working to restructure its debt and recover from the economic impact of the pandemic. The country's debt has been a major concern for the government, and China's support in this area has been seen as a significant boost. The economist also urged developing countries to be cautious of the "American imposition of ideologies" and to prioritize their own sovereignty and interests. This warning comes as the United States has been increasingly critical of China's growing influence in Africa and its Belt and Road Initiative. Hambayi's comments are a timely reminder of the importance of Zambia's relationship with China and the need for the country to maintain its independence and sovereignty in its economic dealings. As Zambia continues to navigate the challenges of the pandemic and its aftermath, China's support is likely to remain a crucial factor in its recovery. The government has already acknowledged the importance of China's support, with President Hakainde Hichilema recently praising China's role in Zambia's development. The president's comments were seen as a sign of the strong ties between the two countries and the potential for further cooperation in the future. As Zambia looks to the future, it is clear that its relationship with China will remain a key factor in its economic development. With China's support, Zambia can continue to build on its progress and work towards a brighter future for its citizens.

Zambia 🇿🇲 is moving towards de-dollarisation! Learn how this strategy could reshape the nation's economy, boost the Kwacha, and reduce reliance on foreign currencies. Explore the benefits, challenges, and global context of this bold move. Read more in Business News Zambia Newspaper & check out Dean N Onyambu’s article on the Canary Compass Substack for an in-depth analysis. #ZambiaEconomy #DeDollarisation #Kwacha #BusinessNewsZambia

BREAKING: China to finalize takeover of TAZARA railway by 2024, investing over $1 billion in rehabilitation & upgrade! The 1,860km railway will quadruple capacity to 2 million tons/year, boosting Zambia's copper exports & regional economic growth #TAZARA #ChinaAfrica #FOCAC

BREAKING: China pledges $51 billion to Africa, solidifying its position as a major player on the continent. But what does this mean for Zambia's debt sustainability and US-Africa relations? Read more in the article here! #ChinaAfrica #Zambia #InfrastructureInvestment #USAfrica

Has Zambia's entrepreneurs and SMEs ever taken advantage of the benefits of utilising the Africa Growth & Opportunities Act (#AGOA) over the past 2 decades? Is there need for an #AGOA awareness campaign?

INTERVIEW: President Hichilema on China-Zambia Relations and the Rebirth of the TAZARA Railway** As Zambia marks 60 years of diplomatic ties with China, President Hakainde Hichilema shares his thoughts on the future of bilateral relations and the planned rejuvenation of the Tanzania-Zambia Railway (TAZARA). In an exclusive interview with CGTN's Lily Lyu, President Hichilema reflects on the keynote address by Chinese President Xi Jinping at the recent Forum on China-Africa Cooperation and outlines his vision for revitalizing the TAZARA Railway, a landmark project that promises to boost regional trade and economic growth. Watch the full interview to hear President Hichilema's insights on the significance of the TAZARA Railway's rebirth and what it means for Zambia's economy, as well as his thoughts on the future of China-Zambia relations. [video interview] https://lnkd.in/dyTNHZNt Read more about the planned rejuvenation of the TAZARA Railway and its potential impact on Zambia's economy in our upcoming articles.

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Zambian fintech Union54 (YC S21) teams up with global processor Paymentology to offer a USD virtual Mastercard on its ChitChat app! A game-changer for Zambia's digital payments, this partnership empowers users with seamless transactions. #Fintech #Innovation #DigitalEconomy #Zambia #Union54xPaymentology ChitChat

Zambia takes center stage in economic news with its bold move to restrict foreign currency usage in domestic transactions! An attempt to stabilize the kwacha while navigating a delicate economic recovery. But with an ongoing energy crisis, will this initiative power up or dampen Zambia's economic engine? #KwachaPower #ZambiaEconomy #CurrencyWars #EnergyCrisis #EconomicRecovery