THE United States of America (USA) has introduced a Bill that seeks to repeal a sanctions law that has been blamed for Zimbabwe's almost three-decade-long economic meltdown.
Zimbabwe Democracy and Economic Recovery Act (ZIDERA), passed in 2001, not only imposed restrictions on America's support for Zimbabwe but also ceased further financing from International Monetary Fund (IMF) and World Bank which at that time were owed billions.
The State Policy Provisions Bill, introduced by Brian Mast in the House of Representatives, will unlock funding from the IMF and other global financiers on condition Zimbabwe clears its yesteryear arrears within a year.
"In General- the... (ZEDERA Act), as amended, Public Law 107-99 (115 Statute 962) is hereby repealed," reads Section 303 of the Bill.
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A number of senior Zanu PF members, including Ignatius Chombo and former Reserve Bank of Zimbabwe governor Gideon Gono, who were on America's sanctions list were removed in the past five years as a lead-up to the suggested repeal of ZDERA.
Last year March, then US President Joe Biden terminated the Zimbabwe sanctions programme and unblocked more individuals and entities that had been barred by America.
According to the African Mining Indaba, the USA is recalibrating its relationship with Africa in light of increased Chinese influence on the continent.
Growing anti-West sentiments and the race for rare earth minerals, abundant in Africa, and necessary to drive the ongoing technological revolution, has, according to the review paper, forced America to rethink its punitive approach of dealing with 'rogue states' such as Zimbabwe.
"Africa's critical minerals are at the heart of an economic and strategic battle between the US. and China," reads a report by African Mining Indaba.
"While China maintains a dominant position through infrastructure investments, refining capabilities, and long-standing agreements, the US. is making efforts to provide alternative investment approaches.
"The outcome of this competition will shape global supply chains, the clean energy transition, and Africa's economic future. Ultimately, how African nations navigate this geopolitical rivalry will determine the long-term benefits they derive from their mineral wealth."
ZIDERA's enactment was used by Zanu PF as an excuse for poor administration, sharp rise in corruption within top government offices and general decline of standards.
America was blamed for everything, from a shortage of drugs in hospital to basic failures that were not affected by travel or trade restrictions imposed on individuals within the party or companies reported to have been supporting the disregard of human rights in Zimbabwe such as the Zimbabwe Defence Industries (ZDI).
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Vice President Constantino Chiwenga, last year claimed that Zimbabwe had lost over $150 billion because of sanctions imposed by the European Union (EU) and America.
Its repeal will, hence, be taken as a win by the ruling party which has been campaigning for its repeal for over 15 years. President Emmerson Mnangagwa went as far as declaring October 25, a holiday, reserving the day for calls to repeal ZIDERA.
Some party members have even been staying in plastic tents outside America's Embassy in Harare, in protest to the sanctions.
