Zimpapers Logo

Nduduzo Tshuma Senior Political Reporter
THE head of Zimbabwe’s delegation to the African, Caribbean and Pacific Countries Cde Makhosini Hlongwane has welcomed the decision by the European Union (EU) to lift trade sanctions against Zimbabwe.

The EU, however, kept travel bans against President Mugabe and the First Lady Cde Grace Mugabe which the Western bloc said would be reviewed in February next year.

Cde Hlongwane who is also the Co-President of the Standing Committee on Political Affairs of the ACP-EU JPA (EU Joint Parliamentary Assembly) advised the private sector to engage the European Investment Bank which among others, provides private sector support following the EU’s November 1 sanctions review.

He said the delegation would continue to lobby for the removal of sanctions that prohibit the President from travelling to Europe for government business to attract foreign investment.

“The Head of Delegation wishes to advise the private sector to immediately take advantage of this full lifting of Article 96 sanctions by engaging with the European Investment Bank through proper laid down procedures, and exploring the Investment Facility available under the Cotonou Partnership Agreement,” said Cde Hlongwane.

“The Investment Facility which is in Article 76 and Annex 11(read as 2) of the Cotonou Partnership Agreement provides for the following private sector support.( a) provision of risk capital in the form of (1) equity participation in Zimbabwean enterprises including Financial Institutions, (2) quasi capital assistance to Zimbabwean enterprises including Financial Institutions and (3) guarantees and other credit enhancements to cover investment related risks B) the bank does also provide Ordinary Loans.”

Cde Hlongwane implored the EU to focus on rebuilding its relationship with Zimbabwe by removing the remaining sanctions on President Mugabe and the First Lady, Cde Grace Mugabe as that would assist in moving towards the full normalisation of relations.