Zimbabwe has stopped acquiring foreign-owned farms protected by bilateral investment agreements. Lands Minister Herbert Murerwa said government has decided to steer clear of farms falling under the Bilateral Investment Promotion and Protection Agreement (BIPPA), after 40 Dutch farmers won their case through the International Court for the Settlement of Investment Disputes. “All farms under BIPPA will not be acquired under the land reform programme. That’s the position we have taken for now,” he said. The ICSID ordered the government to pay the farmers $11.5 million in compensation and slapped on a 10 percent interest for every six months from the date the farms were seized until full payment of the amounts.
(31 VIEWS)
0 Comments