News / Local
'Absence of property rights eroding investor confidence'
13 Jun 2023 at 01:43hrs | Views
UNAVAILABILITY of title deeds and property rights is eroding investment confidence in Zimbabwe, the Coalition for Market and Liberal Solutions (Comaliso) has said.
Currently thousands of urban dwellers have, for example, no title deeds to the properties they were allocated in peri-urban settlements created on farms repossessed by government under the 2000 land reform programme.
These farms and many others are still subject to disputes. Government will fully take possession of them when it compensates the former owners, which has resulted in the mushrooming of land barons who are illegally parcelling out land to unsuspecting aspiring homeowners.
Last year, Comaliso lobbied Parliament to enact the Right to Shelter Act to afford Zimbabweans the right to legitimate settlements and shelter.
In its recent policy document titled Liberal Manifesto: 2023 Nuggets for progressive political parties in Zimbabwe, Comaliso said it was disheartening that 43 years after independence, the country was still labelled poor and a pariah State.
"For our economy to grow, everyone — State institutions included — must embrace property rights. Legalised ownership of capital, tangible and intangible goods and land are the drivers of investment and market exchange," said the organisation.
"Violating title deeds, invading State land, Chinese ‘wrestling' land from rural citizens and politicians expropriating farms without compensation erodes investor confidence. Without title deeds, citizens who own urban and rural homes cannot access loans. Those in so-called ‘informal settlements' live in constant fear of eviction.
"In rural areas, Chinese freely roam, displacing citizens for mineral exploitation. Financial institutions are reluctant to lend money where there are no fixed assets."
The think-tank further pointed out that "freedom unlocks synergies among different sectors of the economy attracting more funding for research and development".
Comaliso added that Zimbabwe needs to commit to personal liberty and protect civil liberties and freedom of expression.
"All citizens and institutions of governance must make a commitment to strengthen democracy, by protecting the right to vote and ensuring free, fair, just and transparent elections," Comaliso said.
Currently thousands of urban dwellers have, for example, no title deeds to the properties they were allocated in peri-urban settlements created on farms repossessed by government under the 2000 land reform programme.
These farms and many others are still subject to disputes. Government will fully take possession of them when it compensates the former owners, which has resulted in the mushrooming of land barons who are illegally parcelling out land to unsuspecting aspiring homeowners.
Last year, Comaliso lobbied Parliament to enact the Right to Shelter Act to afford Zimbabweans the right to legitimate settlements and shelter.
In its recent policy document titled Liberal Manifesto: 2023 Nuggets for progressive political parties in Zimbabwe, Comaliso said it was disheartening that 43 years after independence, the country was still labelled poor and a pariah State.
"For our economy to grow, everyone — State institutions included — must embrace property rights. Legalised ownership of capital, tangible and intangible goods and land are the drivers of investment and market exchange," said the organisation.
"Violating title deeds, invading State land, Chinese ‘wrestling' land from rural citizens and politicians expropriating farms without compensation erodes investor confidence. Without title deeds, citizens who own urban and rural homes cannot access loans. Those in so-called ‘informal settlements' live in constant fear of eviction.
"In rural areas, Chinese freely roam, displacing citizens for mineral exploitation. Financial institutions are reluctant to lend money where there are no fixed assets."
The think-tank further pointed out that "freedom unlocks synergies among different sectors of the economy attracting more funding for research and development".
Comaliso added that Zimbabwe needs to commit to personal liberty and protect civil liberties and freedom of expression.
"All citizens and institutions of governance must make a commitment to strengthen democracy, by protecting the right to vote and ensuring free, fair, just and transparent elections," Comaliso said.
Source - newsday
