by Innocent Mujeri
The ZANU PF UK/EU District has commended the United States of America for removing Agribank and the Infrastructural Development Bank of Zimbabwe (IDBZ) from the sanctions list and said the move would now allow, the two financial institutions to do international business and also obtain lines of credit.
In a statement, the ZANU PF UK/EU District said the removal of sanctions on the two financial institutions would enable, the two banks to play a pivotal role in the country’s economic revival as these institutions would now be able to support the economy, through funding of agricultural and infrastructural development in the country.
“Agribank and the Infrastructure Development Bank of Zimbabwe (IDBZ) are now free following the US Treasury Department’s decision to remove the two institutions from its sanctions list. This is important as the two banks should now be able to support the economy through funding of agriculture activities and infrastructure development in the country,” reads part of the statement from ZANU PF UK/EU District.
The ZANU PF UK/EU District Chairperson, Masimba Tawengwa said the removal of sanctions on Agribank and IDBZ was a sign that the call for the removal of illegal sanctions on Zimbabwe is bearing fruits.
Tawengwa further said the ZANU PF UK/EU District members had been very active in supporting President Emmerson Mnangagwa and his Government, vigorously campaigning for the removal of all restrictive measures on the nation.
He also said in October 2019, the ZANU PF UK/EU District members led the Zimbabwe Community based in the UK to submit, a petition at Britain’s Foreign and Commonwealth Office and to British Prime Minister, Boris Johnson at his 10 Downing Street residence calling for the removal of sanctions on Zimbabwe.
Tawengwa also said the removal of sanctions showed that the re-engagement efforts of President Mnangagwa were bearing fruits.
“The removal of these institutions from the sanctions list shows that the hard work of President Mnangagwa, his lieutenant, Minister for Foreign Affairs and International Trade, Cde, Rtd Lt General Sibusiso Moyo and the entire Government’s re-engagement policy is beginning to bear fruits,” said Tawengwa.
Tawengwa further called for the total removal of sanctions to enable the country to attain its Vision 2030 objectives.
“Full removal of economic sanctions will help the country accomplish its Vision 2030 objectives of becoming an upper middle-income society within the next ten years. And we continue to urge the US as well as its allies to fully remove any economic restrictions placed on Zimbabweans and their elected Government,” said Tawengwa.
Meanwhile, Mr. Costa Moyo, a Zimbabwean businessman based in the UK, also welcomed the removal of sanctions on the two banks.
“There are mutual benefits to be derived from the lifting of sanctions between Zimbabwe and Western countries who have imposed sanctions on Zimbabwe. For us in business, we want to be able to globally transact without fear of falling foul of these senseless sanctions,” said Moyo.
UK based political analyst, Miriam Kirk said it was in the interests of Americans to engage with the Zimbabweans instead of seeking to remove the ZANU PF Government through economic sanctions or any other unconstitutional means.
“We hope, this is a sign of working towards normalizing relations between our countries and expect the US to abandon its anti-ZANU PF policy,” said Kirk.
Economic sanctions on Zimbabwe were imposed when the country embarked on a land redistribution programme, to provide previously marginalized black Zimbabweans with arable land for productive commercial farming.
Agribank as well as the IDBZ were targeted by the US and its allies as some of the banks working with Government for the total economic emancipation of Zimbabweans.
