On 23 May 2025, the Bank of China (BOC) in Zambia held a promotion conference for the internalization of RMB in Lusaka, the capital of Zambia. Lyness Mambo, Director of the Prudential Supervision Department at the Bank of Zambia, expressed that the promotion of RMB’s use and development in Zambia not only advanced the local financial market but also supported the economic and trade exchanges between the two countries in finance. Li Xuewen, Managing Director of BoC Zambia, stated that the bank would throw its weight behind the process of RMB’s internalization in Africa, committed to bridging the investment and trade between China and Zambia. Jin Jun, Counselor of the Chinese Embassy in Zambia, pointed out that China and Zambia had conducted extensive, diverse, practical, and innovative cooperation within the framework of the Belt and Road Initiative and the Forum on China-Africa Cooperation.
China has consistently ranked as a major investment source for Zambia for years, which would not be without the financial cooperative support of two countries. The promotion of RMB’s use in Zambia serves important functions in mitigating the risk of exchange rate fluctuations, enhancing cooperative efficiency, and deepening strategic coordination.
