Story by Theophilus Chuma
THE illegal economic embargo imposed on Zimbabwe by the United States and its Western allies has drained the country of an estimated US$150 billion in lost revenue.
Three years have passed since United Nations Special Rapporteur, Professor Alena Douhan called for the removal of illegal sanctions imposed on Zimbabwe by the United States and its Western allies, citing their devastating impact on human rights.
“Sanctions on Zimbabwe imposed by Britain and the United States must go. They are hurting human rights,” said Professor Douhan.
Yet, the economic embargo remains in place, strangling Zimbabwe’s economy of US$150 billion in lost revenue and stifled growth.
By instructing the US Executive Director through the Zimbabwe Democracy and Economic Recovery Act (ZIDERA) of 2001, to oppose any vote against loans, credits, or guarantees to the Zimbabwean government, international financial institutions have been blocked from providing vital support.
This has crippled Zimbabwean firms, such as Ziscosteel, CSC, and the National Railways of Zimbabwe, which have struggled to access offshore loans, forcing them to shut down.
The human cost is staggering as alluded to by Mr Frank Musayirira, who dedicated 44 years of his life to Ziscosteel and others that bear the scars of the harsh restrictive measures.
“I worked for 44 years at Ziscosteel and when the company folded, I felt like my life had also ended. The demise of the company still remains one of the painful moments of my life,” narrated Mr Musayirira.
“Our lives took a very huge turn when Ziscosteel closed . It has been very difficult for Redcliff to retain it’s glorious days . I hope I will live to see the smoke coming out of Zisco,” added a Ziscosteel employee.
The Ziscosteel story is a tragic reminder of the far-reaching consequences of economic sanctions.
Once a thriving steel company, it faced numerous challenges, including raw material shortages, and financial difficulties, ultimately leading to its collapse
As Zimbabwe continues to navigate the complexities of economic recovery, it is essential to acknowledge the painful legacy of ZIDERA.
