Zimbabwean businesses urged to seek global partnerships after US sanctions lift
via NewsDay Zimbabwe7 min read
Zimbabwean Foreign Affairs and International Trade minister Frederick Shava encouraged local businesses to explore global cooperation opportunities following the termination of broader US sanctions. Speaking at the Zimbabwe-US Business Forum in Harare, Shava highlighted the potential benefits from a visiting nine-member delegation from the Global Opportunities Committee of the Atlanta Black Chambers ABC, which is exploring investment opportunities in Zimbabwe. This mission is the first since the US administration ended its sanctions program on Zimbabwe on March 4, though new sanctions were imposed on 11 individuals, including President Emmerson Mnangagwa and Vice-President Constantino Chiwenga, and three entities, over alleged corruption and human rights abuses. Shava emphasized leveraging ABC's experience to improve Zimbabwe's image as an investment destination for American businesses. Despite previous sanctions, Zimbabwe's exports to the US increased from US$700,000 in 2020 to US$12.1 million in 2022, though Shava noted these levels remain low and undiversified. Obert Mpofu, secretary-general of the ruling Zanu PF party, suggested the revised sanctions might be an attempt to resume business due to Zimbabwe's strategic importance and mineral resources. Zimbabwean ambassador to the United States, Tadeous Chifamba, criticized the US stance on corruption and human rights, citing perceived hypocrisy.
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This summary was AI-generated from a story originally published by NewsDay Zimbabwe.
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