Zimbabwe white farmers reject 'bad deal'

Representatives of white commercial farmers whose land was expropriated by the Zimbabwean government have rejected Treasury Bills (TBs) proposed as compensation. This comes after the government's land reform program in the early 2000s, which saw around 4,500 white farmers displaced as land was redistributed to approximately 300,000 black families.

In July 2020, the government and farmer representatives agreed on a US$3.5 billion compensation deal for improvements made on the farms, known as the Global Compensation Deed (GCD). The agreement stipulated that half of the settlement would be paid within a year, with the remaining amount distributed over five years.

However, the farmers argue that the current offer of Treasury Bills, which mature over 10 years with a 2% interest rate, does not meet the terms of the GCD. While a few farmers, particularly vulnerable members, have accepted the new proposal through the Property and Farm Compensation Association (PROFCA), the majority find it unsatisfactory.

Liam Philp of the Commercial Farmers Union (CFU) expressed frustration with the government's failure to honor the original agreement and criticized the new offer as inadequate.