President Emmerson Mnangagwa has hailed the US$3.5 billion compensation agreement signed between the government and the Commercial Farmers Union at his State House offices in Harare this Wednesday.
President Mnangagwa said the agreement re-affirms the irreversibility of the land reform programme and is a symbol of Zimbabwe’s commitment to the rule of law and property rights. He said in a statement:
Today we signed a historic compensation agreement with the Commercial Farmers Union, bringing closure and a new beginning to land discourse in Zimbabwe.
The agreement re-affirms the irreversibility of land and is as a symbol of our commitment to the rule of law and property rights.
It is a testimony to the fact that as fellow Zimbabweans, we can peacefully resolve our differences. We cannot change the past, we can only learn from it.
Let us build on the trust demonstrated today, let us choose dialogue over confrontation and let us move forward together.
Finance Minister Mthuli Ncube and acting Agriculture Minister Oppah Muchinguri-Kashiri signed the deal on behalf of the government, while farmers unions and a foreign consortium that undertook valuations also penned the agreement.
However, Zimbabwe does not have the money and will issue long term bonds and jointly approach international donors with the farmers to raise funding, according to the compensation agreement.