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Sikhulekelani Moyo, [email protected]

THE continued imposition of sanctions is frustrating the viability of local industries which struggle to secure critical capital to expand operations as they compete unfairly in the global market, industrialists have said.

As Zimbabwe commemorates SADC Anti-Sanctions Day, which is held on October 25 every year, captains of industry have joined the chorus of voices calling for the unconditional removal of sanctions.

President Mnangagwa will lead the national event in Bulawayo today where he will deliver a statement on Anti-Sanctions Day in his capacity as SADC chairman under theme: “Embracing Innovation Towards Vision 2030: The relentless Fight Against Illegal Sanctions”.

Since the imposition of the illegal sanctions over 20 years ago, Zimbabwe’s economy has lost over US$40 billion in potential revenue and development assistance from multilateral lending institutions.

The actual cost of the socio-economic devastation and infrastructural decomposition that was directly and indirectly caused by the illegal sanctions imposed against Zimbabwe by some Western countries at the turn of the millennium is yet to be quantified.

Reflecting on these, prominent industrialist and past president for the Confederation of Zimbabwe Industries (CZI) Matabeleland Chamber, Mr Joseph Gunda, said industry has suffered more under sanctions, with adverse impact being felt by ordinary people.

“Industry supports the removal of illegal sanctions. Our economy and country are losing out on a lot of opportunities that are being hindered by these sanctions,” he said.

“For us to realise our dream of becoming an upper-middle-income economy by 2030 as espoused by President ED Mnangagwa, we need to have these sanctions removed quickly. We need to survive.”

The Anti-Sanctions Day was adopted by the 39th Sadc Summit that was held in Dar es Salaam, Tanzania, in August 2019 and designated the 25th of October of each year as the day of solidarity with Zimbabwe against the illegal sanctions imposed by some Western nations.

Commenting, economist Mr George Nhepera said the country has suffered economically due to sanctions that have brought down industries and affected local currency stability.

“We have not survived the sanctions, they have brought down industry and affected our currency stability,” he said.

This year’s Anti-Sanctions Day commemorations present an opportunity for regional leaders, officials, and citizens to unite against the adverse effects of sanctions on the country and the continent.

The event, coinciding with the Zanu-PF Annual People’s Conference, will bring together stakeholders to address critical issues impacting the nation’s development.

With President Mnangagwa at the helm, the SADC Anti-Sanctions Day serves as a platform for solidarity, advocacy, and collective action.

The President’s leadership during this event reaffirms Zimbabwe’s stance against sanctions and its commitment to fostering sustainable growth and prosperity for its citizens.