BENCHMARKING ZIMBABWE'S GLOBAL COMPENSATION AGREEMENT AGAINST THE PROVISIONS OF EXISTING LAWS GUIDING COMPENSATION FOR EXPROPRIATED PROPERTIES

Partson Paradza, Joseph Awoamim Yacim and Benita Zulch

AfRES from African Real Estate Society (AfRES)

Abstract: The government of Zimbabwe (GoZ) and former commercial farmers signed a highly celebrated historic Global Compensation Agreement in July 2020. This Global Compensation Agreement which is a product of the new administration was signed following adoption of a consensus-based compensation. Even though the Global Compensation Agreement document remains a guarded secret, parties to the agreement shared the process which resulted into the agreement and limited contents of the Global Compensation Agreement. Currently, no known study has been conducted to assess whether the process which was used to estimate the global compensation and the provisions of the Global Compensation Agreement comply with the provisions of the existing laws. As such, this study was carried out to close this gap and contribute to the existing debate on compensation expropriated for land reform in Zimbabwe. A desktop survey was used, and data were obtained mainly online. It was concluded that even though the Global Compensation Agreement was done as guided by the Land Acquisition Act (LAA) of 1992 and the Constitution of Zimbabwe (CoZ) of 2013, specially on the compensable heads of claim and the compensation period. However, an institutional framework which was used to arrive at the GCA seems to have deviated from the provisions of the same laws. This study was limited by unavailability of a copy of the Global Compensation Agreement document resulting in the researchers only using the little information which was published by parties to the Global Compensation Agreement. It is recommended that further research be done on the same area once the Global Compensation Agreement deed is published.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2022-01-01
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