You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Zimbabwe breaks from past, urges joint ventures on idle farmland

The joint ventures will need government approval and a database to match landowners with potential investors will be developed.
Image: Shutterstock

In a break with the past, Zimbabwe is urging farm owners with unproductive land to form partnerships to bolster agricultural output and slash the country’s import bill.

The joint ventures will need government approval and a database to match landowners with potential investors will be developed, Agriculture Minister Anxious Masuka said Friday in an e-mailed statement. “Abandoned, derelict and under-utilised” farms will be liable for repossession and redistribution to those on a waiting list for land, he added.

The directive represents a major policy shift by the southern African nation. In 2000, Zimbabwe’s government, led by the late Robert Mugabe, who was under increasing pressure to improve the lives of citizens, seized farms belonging to mostly White commercial farmers and gave them to Black people, saying the move was meant to redress colonial imbalances.

The land grabs resulted in a country that used to produce an agricultural surplus becoming a net-food importer. Farm output for products such as corn, Zimbabwe’s staple food, and the main cash crop, tobacco, plummeted. After the farms were expropriated, some Western nations imposed sanctions and international isolation followed, with food and foreign currency shortages becoming commonplace.

Having battled two consecutive droughts, good rains and a better harvest last year formed the basis of Treasury’s upwardly revised economic growth forecast. The country harvested 2.7 million tons of corn, triple the prior season’s figure, according to data from the Agriculture Ministry.

© 2022 Bloomberg

VIDEOS

COMMENTS   3

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

Perhaps they should return to 1990 when Zim had a food production surplus … I wonder why?

With a communist government, worthless currency and failing transport infrastructure not even a return to the 1990’s will help them.

Why is it that politicans all have a very low Intelligence Quotient? Especially Zimbabwean politicains?

If you want people to invest, the last thing you do is put hurdles in their way to making the investment: “Joint ventures will need government approval” Just those words make sure that the potential investor goes somewhere else to put their money.

Except of course if you surname is Gupta and you understand that what they really want is an investment in their back pocket.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us:

Search Articles:
Click a Company: