Online Reporter
Africa Moyo in ABIDJAN, Côte d’Ivoire
Zimbabwe will unlock up to US$15 billion from the Land Tenure Implementation Programme under which farmers are getting title deeds for their land, with the funds set to be injected into the economy, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube has said.
In his address at the oversubscribed side-event on Zimbabwe’s arrears clearance and debt resolution process at the ongoing 2025 African Development Bank annual meetings on Monday, Prof Ncube said the average price of the land per square metre is US0,6c.
“We have also introduced full title deeds and if one’s land is surveyed and everything is ascertained, we can issue the title deeds in three days.
“The price of land is between US0.3c per square metre to US0,10c per square metre and the average is US0.6c per square metre, and the total value is US$15 billion, which has been missing in the economy.”
The Land Tenure Implementation Programme was launched by President Mnangagwa on December 20 last year.
Several landowners have already received their title deeds, with more set to get theirs going forward.
The programme has created new land markets, allowed farm subdivisions to cater for family inheritance and provided an exit strategy for those who opt out of farming.
Recently, Lands, Agriculture, Fisheries, Water and Rural Resettlement Minister, Dr Anxious Masuka, said only individuals or spouses are entitled to title deeds.
Companies and family trusts do not qualify as part of efforts to curb multiple farm ownership.
The issuance of title deeds follows the provisions of the Constitution.
The new title allows landowners the option to secure financing for their agricultural activities. Through the title deeds, capital markets will potentially improve their participation in agricultural value chains.
Land value will be determined by ecological regions, with agro-ecological Regions One and Two that have higher rainfall costing more per hectare compared to land in areas with lower rainfall potential such as Region Five.
Further, specific land values will be determined by land use classification, proximity to towns, presence of rivers or dams and land improvements, among others.
Traditional methods of farm valuation and sales have been thoroughly examined and the present system adopted is heavily discounted to allow every farmer an opportunity to opt to purchase the land.
The Government says farmers have generous terms and options to purchase the land, while war veterans and civil servants have discounts and those paying cash. There is a 15 percent discount for cash holders, 15 percent discount for war veterans, a 5 percent discount for civil servants who have served for 20 years and above, and 2,5 percent discount for civil servants who have served for 10 years and above.
AfDB president Dr Akinwumi Adesina said the land title deeds programme has stunned him.
“On land title, I am amazed by how the Government has worked around it and farmers are being paid,” he said.
Meanwhile, international stakeholders praised Zimbabwe for its commitment to the arrears clearance and debt resolution process.
European Union Ambassador to Zimbabwe Jobst von Kirchmann commended the milestones attained so far.
“Two and half years later, we, the international stakeholders, want to commend the overall progress by Zimbabwe in this process.
“The dialogue is well implemented and we want to acknowledge the progress achieved by the Government of Zimbabwe,” he said.
Switzerland Ambassador to Zimbabwe Stephane Rey said 85 farms have so far been compensated, “with real money in real bank accounts”.
“Second tranche payout is imminent — a major milestone,” he said.
The payment terms consist of a 1 percent upfront capital payment in USD and USD-denominated Zimbabwe Government Treasury Bonds with maturities ranging from 1 year to 10 years from the date of issue, and with a coupon rate of 2 percent, with interest paid twice annually.
To date, 977 applications for compensation have been received, representing close to 25 percent of the properties registered on the Valuation Consortium’s database.
Of those 977 applicants, 378 have received their 1 percent upfront capital payment in USD in bank accounts of their choice in any jurisdiction and have also received their Treasury Bonds.
Compensation Steering Committee chairman Mr Andrew Pascoe said he has received many messages of gratitude from former farmers around the world.
“For many who had given up hope of ever receiving anything, these payments are a lifeline. The next batch of 327 applicants has gone through all the approvals and is currently awaiting the release of the 1 percent upfront cash payment after which the Treasury Bonds will be issued.
“The remaining 272 applications are at various stages of the registration process,” said Mr Pascoe.
Prof Ncube said under the BIPPA compensation, US$20 million was paid out last year and another US$20 million would be paid this year.
“As we vet more farmers, payments will be made. Some farmers have rejected the deal and will not receive compensation.
“We have been clear on that. The deal is voluntary and not mandatory,” he said.
One of the former farmers whose farm was under a Bilateral Investment Protection and Promotion Agreement, Ms Lisa Nislev, said she was happy to have received the initial payment.
She said it was all emotions in one of the farmers’ WhatsApp groups, with beneficiaries expressing surprise that indeed, the compensation process was moving ahead well.
