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PRESIDENT Emmerson Mnangagwa, who is in New York for the 73rd Ordinary Session of the United Nations General Assembly, has been on a charm offensive in the Big Apple where he is engaging prospective investors and political movers and shakers in a bid to breathe life into the economy by getting sanctions lifted and capital flowing to Harare.

His delegation, which comprises Finance and Economic Development Minister Professor Mthuli Ncube and Reserve Bank of Zimbabwe Governor Dr John Mangudya, has already made headway through a series of engagements with key fund managers from influential investment bankers such as JP Morgan, Citi Group and Rothschild. They have also been to Wall Street — the seat of international finance — where they engaged with brokers and other powerful figures at the reputable US stock exchange.

President Mnangagwa has also held a series of interviews with global news outlets such as Bloomberg TV and CNN where he acquitted himself well on key issues such as sanctions, the need to get back into the community of nations, reforms being undertaken to attract investment, peace and reconciliation and re-engagement particularly with the US which remains the major stumbling block to unlock international capital.

He also addressed investors during a highly subscribed Zimbabwe Investor Forum on Friday where he told his audience that Zimbabwe stood ready to enhance and improve economic relations with the United States. Zimbabwe, he said, stands ready to enter a new era of relations with the United States of America and pursue economic cooperation and further re-ignite mutually beneficial trade and economic cooperation between our countries and peoples.

The President cited the relaxation of the indigenisation law, the setting up of Special Economic Zones and reform of the public sector to eliminate red tape and bureaucratic bottlenecks as some of the reforms meant to attract investment. “The key tenets of our economic agenda include sweeping and comprehensive economic reforms which foster an investment friendly environment that promotes and protects private enterprise; improves the ease and cost of doing business; reduces the country risk perception, creates employment, eradicates corruption and enhances public sector accountability, transparency and good governance,” he said.

President Mnangagwa said he is optimistic that Washington would soon soften its stance against Harare in line with the trend with the rest of the world which is now re-embracing Zimbabwe back into the global community.

Washington has maintained economic sanctions on Harare through the Zimbabwe Democracy and Economic Recovery Act (Zidera) since 2001 which, among other things, gives US officials powers to confiscate assets belonging to Zimbabweans at any time and to veto any financial decisions to support Zimbabwe at the World Bank and International Monetary Fund. It is estimated that in nearly two decades, Zidera has cost the Zimbabwean economy billions in potential business.

President Mnangagwa said when relations between Zimbabwe and the US soured, the latter was only following Britain’s lead which had managed to internationalise its row with Zimbabwe.

But now because Britain was softening its stance against Zimbabwe following the ushering in of a new dispensation in Harare, President Mnangagwa said the US was also likely to follow suit.

“Our relations with Britain have improved tremendously and we are now talking, so America is left out in the cold by the British and the EU,” he said.

“There is no quarrel between the people of Zimbabwe and the people of America historically or currently, there is no quarrel, the quarrel is at the level of (the US) administration where Zidera was put, but just now the signals that are coming from Washington are very positive, I have no doubt that in no time we should be able to reconcile and move forward and co-operate with the United States administration.” Indeed, we agree with the President that the US needs to soften its stance on Zimbabwe in line with the new dispensation’s thrust to normalise relations.

Zimbabwe is currently undertaking wide ranging reforms some of which are meant to placate the US and we feel the gesture should be reciprocated with a relaxation of sanctions which are an albatross around the country’s economy. If Britain — Zimbabwe’s former coloniser — is willing to give the new administration in Harare a chance by re-engaging and starting on a clean slate — then the likes of Washington should also follow suit since the source of Zimbabwe’s problems has always been a bi-lateral dispute with London.

By adopting a hardline stance, Washington risks being left behind by other countries which are already making a beeline for Harare to scout for investment opportunities. Zimbabwe is only a small country with no historical quarrel with America.

It deserves a chance to grow its economy without the impediments which come with sanctions. We appeal to the good men and women who constitute the US Congress, the House of Representatives and Senate, to consider repealing Zidera in the spirit of goodwill and giving President Mnangagwa and his Government an opportunity to chart a new course for the people of Zimbabwe.