How effective is boxing in getting fit and losing weight?

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My partner has given me boxing gloves and focus mitts for Christmas, and told me that he will help me to use them a few times a week, in an effort to help me get fit, lose weight and tone up. Does anyone know if this is an effective way of achieving my goals, or are there other better ways to do this? I am already maintaining a healthy diet, and doign regular cardio exercise (walking) each day...