Anti-Sanctions Day Speech: Ngonidzashe Walter

Karasambudzi

With a sombre tone yet patriotic and protestant voice, I stand before
you all; ladies and gentlemen, intellectuals and academics, comrades
and friends as we join the Southern African Development Community
(SADC), the Government of the Republic of Zimbabwe and all geniunely
progressive Zimbabweans in calling an end to the illicit and illegal
sanctions imposed on our motherland, Zimbabwe. Pardon my manners,
the young Zimbabwean in front of you is Ngonidzashe Walter
Karasambudzi from Nemakonde High School who is among millions of
Zimbabweans who have not been spared from the horrendous effects
of the unilateral sanctions imposed on Zimbabwe. Let me put it out
emphatically that the sanctions imposed on Zimbabwe are unjustified,
illicit, illegal and wholly a breach of International law. These sanctions
have thwarted and curtailed Zimbabwe’s political, economic and social
sustainable development since the turn of the millennium.

Zimbabwe’s historic Land Reform Programme of 2000 was

accompanied by the United States of America’s (USA) unjustified,
illegal imposition of sanctions under the so-called Zimbabwe
Democracy and Economic Recovery Act (ZIDERA) of 2001. To
supplement her legislative sanctions of ZIDERA, the US imposed
Executive sanctions (Executive Order 13288) of March 2003 which are
renewable on a yearly basis. It must be noted that following the
enactment of ZIDERA, Zimbabwe’s access to international credit
markets was blocked. More so, this has forced the country to virtually
operate on a hand to mouth, and there has been a significant build-up
of external debt areas. In light of these facts, these unilateral sanctions
imposed on Zimbabwe must go for good.

Furthermore, the sanctions imposed on Zimbabwe have paralyzed our

ability to amass massive revenue. It should be noted that Zimbabwean
companies and individuals have found it extremely difficult to effect
payments through the international payment platforms as these
transactions are intercepted and blocked in the hostile countries
especially the US. A state-owned company lost over US$20 million to
the Office of Foreign Assets Control (OFAC), while its the fertilizer
subsidiary company still has its US$5 million frozen to date. A total of
USD2 million belonging to another chemicals company was also
intercepted. Another state-owned company responsible for marketing
the country’s minerals lost over US$30 million in revenue to OFAC. A
private company lost US$2 million it had secured from the PTA Bank to
recapitalise and the firm is currently struggling to produce some of its
basic household products. Therefore, these sanctions are prejudiced
against Zimbabwe’s vision of becoming an Upper-Middle Class
Economy by 2030.

Sanctions have unequivocally negatively affected Foreign Direct

Investment (FDI) which stimulates economic growth and employment
creation in any economy. FDI also positively impacts on the country's
balance of payment position. The negative perception that has come
with sanctions has negatively impacted on FDI inflows as investors tend
to shy away from economies that are perceived as risky. Foreign direct
inflows increased significantly from an average of US$8 million per year
in the 1980s to an average of US$95 million in the 1990s, but declined
to about US$20 million per year after 2000.Thus, sanctions imposed on
Zimbabwe are undeniably a negative force behind Zimbabwe’s high risk
profile which shuns essential investments.
To conclude, the scourge of illegal sanctions has driven Zimbabwe into
deep financial doldrums, political and social torture. The sanctions
which are in breach of Article 41 of the United Nations are uncalled-for.
Zimbabweans and the entire region castigate the same, calling upon an
end to the economic, political and social harassment.
#SanctionsMustGo