AU joins calls for lifting of sanctions against Zimbabwe
Addis Ababa, Ethiopia (PANA) - The Chairperson of the African Union Commission (AUC) Moussa Faki Mahamat has renewed the continental body's demand for the immediate and unconditional removal of sanctions against Zimbabwe.
The AU also said it was in support of the Southern African Development Community (SADC) commemoration of SADC Anti-Sanctions Day.
"The Chairperson remains concerned by the negative impact of continued sanctions against the Republic of Zimbabwe to the country’s socio-economic development and recovery efforts," the AU Commission said in a statement on Wednesday.
"The Chairperson reaffirms the commitment of the African Union to continue working closely with the Southern African Development Community (SADC) to support all regional efforts, and in this regard, the African Union associates itself fully with the statement issued by President Lazarus Chakwera, President of the Republic of Malawi and current Chairperson of SADC," the Commission said.
President Chakwera said the Southern Africa region said that the sanctions imposed on Zimbabwe, whether targeted or restrictive, are a fundamental constraint and hindrance to the country’s prospects of economic recovery, human security and sustainable growth.
President Chakwera said the global impact of the COVID-19 pandemic, coupled with the recent devastating cyclones Chalane (December 2020) and Eloise (February 2021) have mounted added socio-economic pressures that continue to impact negatively on the lives and livelihoods of the people of Zimbabwe.
"The trajectory of the global economy is on re-building and recovery. To this effect, Foreign Direct Investment (FDI), by virtue of being the largest source of foreign capital, remains a critical catalyst and facilitator of growth," President Chakwera stated.
The sanctions increase the perception of Zimbabwe as being in a high risk profile category, thereby diminishing the credibility of investment and investor confidence, while exacerbating investment risks, he explained.
The sanctions further diminish the country’s prospects of obtaining impactful FDI and serves as a deterrent for economic emancipation, growth and stability.
-0- PANA AO 27October2021
