Seized land could ease Zimbabwe's debt – AfDB president

The African Development Bank’s (AfDB’s) outgoing president Akinwumi Adesina says Zimbabwe could unlock up to $9bn from land seized during the 2001 land reform programme – if it had title deeds. According to News Day, the Zimbabwean Government undertook the controversial fast-track land reform programme at the turn of the millennium to displace white farmers from their land and redistribute it to black farmers as a move to address colonial imbalances. However, most of these black farmers have failed to make meaningful use of the land since they got the farms on the basis of them either being ruling Zanu PF party activists, government employees or officials, despite them knowing nothing much about farming. Another major reason for failing to use the land is that these beneficiaries were given the property under 99-year leases, offer letters and permits, making it unusable collateral. Consequently, in December 2024, the government launched the Farm Title Deed Programme for A2 and A1 for beneficiary farmer.

‘I am actually very, very delighted that the titles were actually 99-year leases. Now, they are turning them into full title deeds,’ Adesina said during the ongoing AfDB weeklong annual meetings that began on Monday in the Ivory Coast. He said before the absence of full title, the land was essentially useless, according to News Day. ‘It is my last time as the president of the African Development Bank to which I will be speaking on this issue,’ Adesina said. ' ... let us make sure that we appropriately support Zimbabwe to clear the arrears.' Part of Zimbabwe’s $8.8bn domestic debt includes $3.5bn which the government owes the former white farmers. These high debt levels have prevented Zimbabwe from accessing fresh loans. ‘We have done it for Somalia, we have done it for Sudan. We need $2.6bn of bridge financing, together let us get it done,’ Adesina said.

Full report on the News Day site