“Cost of Agric Inputs & Basic Commodities Hike”
Zimbabwe like any other African country with Russian ties has suffered a serious shock after the United States and many other Western Countries imposed economic sanctions on Russia. The ‘Western Sanctions’ as they are called has proved to be none like any other that has been seen on earth since the beginning of civilization. These sanctions have crippled the economics and the supply chain of Russia and its allies making it close to impossible to import or export goods on the international market. Zimbabwe and Russia have a long standing relationship that dates back to a period after independence in of Zimbabwe in 1980.
The then President of the Republic of Zimbabwe Cde Robert G. Mugabe in Moscow (Russia) and Beijing (China) signed for bilateral relations between Zimbabwe and China and Russia.
Since then Zimbabwe has benefitted from Russia in different areas including the economics of the country whereby Zimbabwe has again and again received constant donations and access to funding from Russia targeted towards fostering development in Zimbabwe. In 2020, Zimbabwe and Russia participated in a joint platinum mining programme known to be ‘The Great Dyke Venture’ whereby Russia was the major shareholder with 51% stake. The Great Dyke Investments (GDI) which was the establishment has expected to raise an initial capital of about US$500 million for the programme to commence and be a success. So Russia has been the major financier of the programme. Zimbabwe has also received military assistance in form of training and equipment from Russia over the years.
However, since Russia received the Western Sanctions, Zimbabwe has started experience fuel price hikes, rises in price of fertilizer, bread, flour and many other basic commodities. The country has struggled to have access to funding since Russia is struggling. It is estimated that inflation is standing at 72.70% according to according to Trading Economics. According to Zimbabwe National Statistics Agency (ZIMSTAT), the currently estimated poverty datum line (FPL) for a single person in Zimbabwe as at February 2022 is standing at ZW$6 660.00 whilst the Total Consumption Poverty (TCPL) for each person again is standing at ZW$9 144.00 as at February 2022.
The generality of all Zimbabweans have fallen into the have nots amid the persistent economic malfunction, disastrous COVID-19 pandemic and the unfortunate Western Sanctions on Russia. Because Russia is unable to import or export, production has slowed in Russia and the consequent effects have been felt in Africa by the likes of Zimbabwe and South Africa amongst many other states.
There are rising concerns over shortages and hikes in fuel prices as well as fertilizer as Russia was the biggest supplier of fuel and oil for the Southern Region in Africa. The protracted struggles for good life in Zimbabwe for ordinary citizens has worsened since Zimbabwe also depend on South Africa. – Ryan . C