By Patience Rashai
The private sector has joined in throwing its weight behind the call by Government against the removal of sanctions which they said had since dented economic revival prospects of the country.
Commenting on the upcoming lobby by African countries this month, National Business Council of Zimbabwe (NBCZ) president, Keith Guzha said, “The upcoming region-wide lobby could be a key turning point in Zimbabwe’s economic prospects because in as much as the West might say the sanctions are targeted at individual companies, they have since impacted on the country’s economy.
“Sanctions are strangling Government efforts to turn around the economy and better the lives of its citizenry…Among other things, sanctions restrict Zimbabwe’s trade with the outside world and limit its access to international capital markets.”
Industrialists in the country are behind this call as the embargo is estimated to have cost the country at least US$42 billion in economic damages over the past two decades, and is behind most economic challenges facing the nation.
Confederation of Zimbabwe Industries (CZI) past president, Busisa Moyo also weighed in saying, “I am yet to meet a single businessman worth his salt who is pro-sanctions. We have spoken out against this and so has Steve Hanke. Sanctions should also be a crime against humanity in the near future at ICC because they are equally brutal to issues they purport to address.”
Likewise, ZNCC added its voice saying that in most instances, local companies have had to move money via clandestine conduits to circumvent the US Office of Foreign Assets Control (OFAC), which forbids American companies from conducting business with Zimbabwean firms since other firms were once fined millions for conducting business with or on behalf of sanctioned countries.
SADC countries have since declared October 25 a solidarity day against illegal sanctions imposed on Zimbabwe and resolved to conduct various activities in their respective countries on the day to resoundingly call for the immediate removal of the sanctions.
