Zimbabwe Finance Minister Mthuli Ncube who signed a US$3.5 billion compensation deal with former white farmers whose land was taken during the land reform programme is negotiating with the wrong farmers, Parliament was told yesterday.
Mutare Central legislator Brian Lesley James asked Ncube whether he was aware that the people that he was negotiating with were not legally mandated to do so by the majority of the title deed holders.
“Hon. Minister, it would be prudent to meet the legitimately elected members because the roadshows that you are referring to gave a very different message that I think probably has not been conveyed to you. So I would appeal to you that you do meet with the legally mandated members of the farming community and title deed holders,” James said.
Ncube said he was quite surprised by this turn of events because negotiations had been going on for 15 years.
“We have been having discussions on this compensation over the last 15 years. It is only in the last five years or so that we have been able to have traction and there is a team that has been negotiating and we were always under the impression that it is legally mandated,” Ncube said.
“No one has ever objected before in the last 15 years that this was the wrong team. Suddenly, the assertion that this is the wrong team is new. I am hearing it for the first time now, today. We have always understood that they were the legally mandated team.”
Q & A:
HON. JAMES asked the Minister of Finance, Economic Development and Investment Promotion to apprise the House whether the liquidation of the CFU’s 12.5% shareholding will be considered as an interim payment to all farmers affected by the Fast Track Land Reform Programme (FTLRP), pending further negotiations by all parties concerned, considering that the previous terms have repeatedly not been met by the Government of Zimbabwe.
THE MINISTER OF FINANCE, ECONOMIC DEVELOPMENT AND INVESTMENT PROMOTION (HON. PROF. M. NCUBE): Thank you Madam Speaker. The payment out of any liquidation of the 12.5% for sure will go towards compensation of farmers under the Global Compensation Deed. It will only support those who signed up to the deed in the first place because there are some who opted out and perhaps are looking for other ways to seek restitution. We wish them well. People have their choices but I can assure Hon. James that any liquidation of this 12.5% will go towards compensating farmers who agree to the terms and conditions of the Global Compensation Deed. I thank you.
HON. JAMES: Supplementary question Madam Speaker. Hon. Minister, the legally mandated representatives of the farming unions have been trying to meet you for these further negotiations and have not been successful. Are you receptive to meeting them to get clarity on this issue of the GCD and so on?
HON. PROF. M. NCUBE: Thank you Madam Speaker.
I am always very happy to welcome the farmers who wish to have further conversations but then I must hasten to say that we already have an agreement and an agreed payment modality which involves the issuance of 10 year bonds with a 2% coupon when we look backwards from year 10 but 1% when we look forward into year 10 and the agreement is that we would liquidate the first 10% value of that bond obligation within the first year. So, we have an agreement in terms of payment modality but if colleagues want to have further conversation, my door is always open and I will be happy to receive the delegation. I thank you.
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