Uneca delegates welcome partial removal of sanctions

FINANCE, Economic Development and Investment Promotion Minister, Professor Mthuli Ncube, has said the recent piecemeal adjustments made by the United States on sanctions it imposed on Zimbabwe are an indicator of a window for further engagement.

While signing an executive order (EO) terminating the national emergency concerning Zimbabwe and revoking EOs that authorised Zimbabwe targeted sanctions, United States President Joe Biden maintained the unilateral illegal sanctions through the Zimbabwe Democracy and Economic Recovery Act of 2001.

The sanctions, which violate Article 41 of the United Nations Charter have negatively affected Zimbabweans, not only in the form of Zidera but also in the Global Magnitsky programme, where 11 individuals including President Mnangagwa and other top Government officials have been placed.

Responding to questions from journalists at the close of the 56th session of the United Nations Economic Commission for Africa (Uneca) Conference of African Ministers of Finance in Victoria Falls yesterday, Prof Ncube, said the partial lifting of sanctions is welcome although the country wants total removal of the illegal embargo.

“The lifting of the order by the White House in terms of the sanctions on Zimbabwe is very welcome.

“It opens the window for Zimbabwe to engage further on the international community, where Zimbabwe can have access to resources for its economic agenda. So, it’s a positive step in the right direction,” he said.

Speaking earlier while closing the conference, Prof Ncube, who is chair of the incoming Bureau for the next one year, said Africa’s challenges were being compounded by the imposition of unilateral sanctions on some African member states by the developed world.

Asked about the latest move by the US on sanctions, Uneca’s director – Sub-regional office for Southern Africa Centre of Excellence for Inclusive Industrialisation, Ms Eunice Kamwendo, said:

“It’s a difficult question. But all I can say is that it is good news and I think a lot of other countries that have part sanctions from the US and others are looking towards the same”.

Kenya’s Cabinet Secretary in the National Treasury and Economic Planning, Prof Njuguna Ndung’u who was also at the conference, told journalists that sanctions inhibit growth as they close market space.

He said the partial removal of Zimbabwean sanctions is a step in the right direction, adding that no country deserves sanctions as they exclude it from accessing cheaper sources of finance.

“You have talked about sanctions especially on finance; finance is our bread and without finance most things cannot work. I am not familiar with the subject matter because I was in the meetings and I didn’t know about the lifting of sanctions but the most important thing is that it is welcome and we believe that without finance we are inhibited,” said Prof Ndung’u.

“That is quite important that finance as a whole global financial market, it is in the market place that you place your wish and where strength is distributed and shared.

“In the development space we always talk about market space and entering market and for me that is the most basic thing that we can talk about, being in market and participating in economic activity is important, you can share in the economic space.”