Zuma blasts IMF stance on Zimbabwe

Former South African President Cde Jacob Zuma yesterday took a swipe at the International Monetary Fund (IMF)'s 2001 stance to starve Zimbabwe of credit facilities, describing the move as unjust and uncalled for.

Cde Zuma said Zimbabwe's leadership has instead equally responded by exhibiting unique qualities to internally solve its challenges and proffer tangible solutions to the continent.

He made the remarks while addressing delegates at the inaugural Africa Voluntary Carbon Credits Market Forum in Victoria Falls yesterday.

On September 24, 2001, Zimbabwe was declared ineligible to use the IMF's general resources and was removed from the list of countries eligible to use resources.

"You will recall that it was in 2001 when the International Monetary Fund, declared Zimbabwe unsuitable to access its resources," said Cde Zuma, who was representing the Belarus Africa Foreign Trade Association (BAFTA).

"The irony of the International Monetary Fund, shows that their decision was wrong and unfair, because the people of Zimbabwe have shown qualities of wisdom, innovation and creativity.

"Under the Zimbabwean leadership, in the identification, adoption and implementation of this platform of trading Carbon Credits, Zimbabweans have proved beyond reasonable doubt, that they are more than capable of addressing the problems facing Zimbabwe and the entire African continent."

Cde Zuma said Zimbabwe — through the AVCCMF — has answered the call to action, which says climate change presents a major threat to long- term growth and prosperity of humanity.

"This has a direct negative impact and increases the triple challenges, which are poverty, inequality and unemployment, in our continent. Zimbabwe today, at this AVCCM Forum has declared to the world that it is fully capable to participate in the climate economy and has proved itself to be a forward thinking nation, by allowing us access to this unique opportunity and providing the AVCCM platform which is now the African Pillar in Carbon Credits Internationally."

The three-day conference, which ended yesterday is a brainchild of Africa Voluntary Carbon Credits Market (AVCCM), a local company.

It is a private sector-led pragmatic, proactive and responsive multi-sectorial and inclusive forum that seeks to facilitate a robust, holistic and inclusive people-centric approach to the climate economy leading to the achievement of National Development Strategy 1, (NDS1) goals, Zimbabwe Vision 2030, Sustainable Development Goals (SDGs).

It also sets the tone for Africa Agenda 2063.

Carbon credits refer to the mechanism in which companies, governments, and individuals make payments to enable others to reduce greenhouse gas emissions on their behalf, thus allowing them to receive recognition for their contribution towards climate action.

Zimbabwe is ranked number 12 among countries that trade in carbon credits in the world and the Government together with climate players is fighting to conserve forests and allow the participation of local communities and traditional leaders who have indigenous knowledge systems and local conservation strategies which have proved effective.

Cde Zuma said Zimbabwe has shown solutions that are not only coordinated at a national level, but also at an African Continental level, that initiates international cooperation to help all countries move toward a low-carbon economy.

He said talks on carbon credits mark the beginning of the transformational agenda that puts Africa on an unprecedented developmental trajectory, through voluntary people centred participatory climate actions.

The hosting of the conference in Victoria Falls was a strategic undertaking as it a significant venue.

"It is fitting that today as we find ourselves at the Victoria Falls, locally called "Mosi-oa-Tunya" which when translated, it means "the smoke that thunders".

"This historic first edition of the AVCCM Forum is well suited for this venue, as this ground-breaking event will certainly yield unprecedented potential to empower the African continent. It is also going to change Africa's participation in the global climate economy

"It is at this very significant venue and through the mission of this forum, that we will ignite a flame that will shape the bright future of the AVCCMF. This will have a positive impact on the face of Africa and the world at large."

Cde Zuma noted that the Victoria Falls Stock Exchange has placed itself in a unique position to catapult its reach and influence globally.

"I take note that Zimbabwe, is once again leading the way by opening its doors at the Victoria Falls Stock Exchange for the trading of the Carbon Credits, much like in the era of Great Zimbabwe that stands as a testament to the Zimbabwean people's pre-colonial autonomy and economic power.

"I implore you all to consider using this innovative platform that is uniquely the only offshore financial services platform inland Africa, as a platform for trading not only African Carbon Credits but also international Carbon Credits.

As the Patron of the JG Zuma Foundation as well as the Board Member of BAFTA, President Zuma pledged his unwavering support to the African Voluntary Carbon Credits Market Forum initiative.

"As such, in an effort to support the African Voluntary Carbon Credits Market Forum as an international and global mechanism. We, through the BAFTA umbrella, have allocated two Million Carbon Offsets to be placed on the AVCCM Forum for sale.

"In fact, I have the Memorandum of Intent of the commitment of these Carbon Offsets, which have been certified and validated and I intend to sign with the AVCCM at this forum."

He said AVCCMF needs the support of all people as it is not merely a Zimbabwean or African effort, but is one that ought to be supported by other progressive nations of the world.