Zimbabwe to complete land valuations in May to pay compensation

Zimbabwe plans to complete land valuations by the end of May to determine the level of compensation to be paid to former white commercial farmers who lost their properties during the government’s land reform programme.

"Given the significant progress made to date, it is anticipated that that this comprehensive farm improvements valuation exercise will be completed by end of May," the government said in a statement on Sunday.

"The completion of the work of the Ad Hoc Compensation Working Group will enable government and former farm owners, in conjunction with cooperating partners, to progress toward closure of the land issue," according to the statement.

The ad hoc group comprises government representatives and former property owners.

In 2000, the government seized farms belonging to mostly white owned farms and replaced them with black farmers, saying the move was meant to address colonial imbalances.

Zimbabwe has budgeted RTGS$53m this year as an interim compensation.

The Commercial Farmers Union and former owners, which are represented by two groupings called Compensation Committee and The Valuation Consortium, have said the RTGS$53m shouldn't be distributed to a few but be open to all farmers.

ZAR/USD
17.05
(-0.92)
ZAR/GBP
21.89
(-0.49)
ZAR/EUR
19.91
(-0.19)
ZAR/AUD
11.98
(-0.48)
ZAR/JPY
0.16
(-0.18)
Gold
1861.07
(+0.04)
Silver
22.88
(+0.12)
Platinum
844.51
(+0.50)
Brent Crude
42.23
(-0.12)
Palladium
2207.00
(+0.59)
All Share
53587.11
(-1.22)
Top 40
49547.74
(-1.16)
Financial 15
9401.28
(-1.95)
Industrial 25
72949.70
(-1.72)
Resource 10
53453.42
(-0.10)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1368 votes
It depends on how the funds are used.
73% - 8870 votes
No. We should have gotten the loan elsewhere.
16% - 1959 votes
Vote