Former Farmers Whose Assets Were Seized Write To Mnangagwa Demanding US$8.6 Billion Compensation5 years ago
Former white farmers who had their properties and assets seized during the Fast Track Land Reform Programme in the early 2000s are reported to have written to President Emmerson Mnangagwa demanding a compensation of US$8.6 Billion. The farmers wrote to the president just after his inauguration in November last year.
However, there seems to be no consensus on the figure among the farmers themselves as a minority of the farmers is reported to be demanding up to US$30 billion as well as international arbitration. The group which is comprised of 20 farmers has no faith in the local process and want the matter to be taken to the Court of International Arbitration in Singapore. However, an overwhelming majority of over 4 000 farmers want the matter to be resolved locally. Of the figure being demanded US$3.1 million is for the land.
The weekly publication, the Financial Gazette, reports that officials with knowledge on the issue said:
The compensation figure includes land, which the farmers valued using regional rates as well as fixed assets.
The bill for fixed assets under the claim amounts to US$5.5 billion. The US$5.5 billion is for assets that don’t exist anymore.
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They are not happy with the local process. They want to go to the Court of International Arbitration in Singapore. The quantum of their claim would include a lot of assets – loss of income, interest at international rates, compensation for dislocation and for violence in cases where farmers were beaten or killed.
More: Financial Gazette