Online Reporter
Africa Moyo in ABIDJAN, Côte d’Ivoire
Zimbabwe yesterday hosted a highly subscribed side event on arrears clearance and debt resolution at the ongoing 2025 African Development Bank annual meetings where presenters praised the country’s commitment to repair relations with multilateral financial institutions while also compensating white former commercial farmers for the developments on the land they used to till.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said there was consensus that a lot has been covered especially following the introduction of reforms that include removal of the death penalty and better access to justice.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube
On the land tenure pillar, Prof Ncube said three things have happened, which are compensation under the US$3,5 billion Global Compensation Deed and under the Bilateral Investment Protection and Promotion Agreement (BIPPAs) and the issuance of bankable title deeds.
Under the BIPPA compensation, Prof Ncube said 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.
“We have also introduced full title deeds and if one’s land is surveyed, 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.”
In respect of arrears clearance, Prof Ncube said a lot has been covered and the next steps include negotiating with the International Monetary Fund for a Staff Monitored Programme.
“We are expecting a mission from the IMF next week,” he said, adding that hopefully they can start on the Staff Monitored Programme in July.
“But we are looking for sponsors who can give us US$2,5 billion bridge finance,” he said.
AfDB president Dr Akinwumi Adesina concurred that a lot of reforms have been made although there have been some sticky points, some of which can be resolved.
“But in life you can’t have it all. We are moving in the right direction with this. On land title, I am amazed by how the Government has worked around it and farmers are being paid,” he said.
Turning to his departure from the AfDB as its leader following the expiry of his two five-year terms, Dr Adesina said: “It is my last time as AfDB president but let’s assist Zimbabwe clear its arrears.
“We have done it for Sudan, we have done it for Somalia; so let’s help them. I may be ending my time as president but I will never end my support for Zimbabwe.
“Whoever will be my successor will take the button. It has been a great pleasure to work with the Minister (Prof Ncube) and everyone involved including President Mnangagwa.”
European Union Ambassador to Zimbabwe Jobst von Kirchmann said international stakeholders “commend” the arrears clearance and debt resolution dialogue process”.
“Two and half years later, we, the international stakeholders, want to commend 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.
Ambassador of Switzerland to Zimbabwe Stephane Rey said 85 famers have so far been compensated, “with real money in real bank accounts”.
“Second tranche payout is imminent – a major milestone,” he said.
One of the former farmers whose farm was under a BIPPA, 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.
The event was also attended by facilitator of the process, former Mozambique President Joachim Chissano, who also expressed optimism of a fruitful conclusion. SADC Executive Secretary Mr Elioas Magosi, Deputy Chief Secretary to the President and Cabinet Mr Willard Manungo, RBZ
Governor Dr John Mushayavanhu, Special Adviser to the President responsible for Monitoring and Implementation of Government programmes Dr Joram Gumbo, and permanent secretary for Justice, Legal and Parliamentary Affairs Mrs Vimbai Nyemba, among others, were also present.
