New land tenure system implementation committee chairperson, Kudakwashe Tagwirei, said the recently launched system is one of the country's biggest empowerment programme and is set to unlock a US$20b value.
Speaking during an interview at state broadcaster ZBCTV, Tagwirei, said the new land tenure system mainly focuses on commercial farmers will see the banks controlling the ownership structure process of the farms.
"And the risks that are associated with being a commercial farmer are that you must make sure that you work the land so that you can be able to pay your dues. And that's the process. And this is one of the issues that we are struggling with," Tagwirei said.
"And government was continually funding these programs. And the farmers were, some of them were unwilling to pay for whatever reason. So there was no management process that was allowing to do this.
"So the bank is just coming in to manage the process of the ownership structure. Now, one of the things that the president (Emmerson Mnangagwa) did, and I always say this, and I said it earlier in one of my presentations, that this is one of the biggest empowerment programs in the world. And I say this because, as I said to you, the land is supposed to be, the value is around U$$20b."
Mnangagwa last year launched a new policy that will allow beneficiaries of the land reform programme to sell, and be able to borrow from banks using the land as collateral.
Some farmers, including Mnangagwa himself, received title deeds to the farms they are occupying.
- 'Land tenure to unlock US$20 billion'
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Mnangagwa also announced a technical committee that will spearhead the rollout of title deeds to other resettled farmers.
"But what the President has done is that he has said, I want this farm to allow this farmer to borrow, the very same farm. But when you are alienating for value, according to the Constitution, for value, the farmer must be able to pay for the very land that they are getting. So the President says, we must then give this farmer a lot of discounts so that you get a first mortgage on this farm," Tagwirei said.
