Zimbabwe’s Finance Minister, Professor Mthuli Ncube has officially signed a US$3,5 billion compensation agreement with dispossessed white farmers under land reform.
The compensation is not for the land itself.
GLOBAL COMPENSATION DEED
Entered into by and between
The REPUBLIC OF ZIMBABWE Represented by the Minister of Finance and Economic Development and
(1) COMMERCIAL FARMERS UNION OF ZIMBABWE Represent. by Andrew John Pascoe and FARMERS
(2) THE SOUTHERN Represented by Cedric Robert Wilde AFRICAN
(3) THE VALUATION CONSORTIUM (PRIVATE) LIMITED Represented by Anthony Meld Purkis
IN RESPECT OF THE COMPENSATION FOR IMPROVEMENTS ON AGRICULTURAL LAND COMPULSORILY ACQUIRED FOR RESETTLEMENT PURPOSES
The issue has been outstanding since two decades ago when the state authorised the violent grabbing of land from then-owners – white farmers.
The land reform programme soiled Zimbabwe’s relations with the Western international community with the United States, the United Kingdom, and the European Union and their allies imposing sanctions on the country’s ruling party, companies and individuals linked to it and senior officials.