THE draft constitution has failed to instil much-needed investor confidence in the agricultural sector and investors will “continue to adopt a cautious approach until it is clear that land can be leveraged as security and has real market value,” a farming group has said.
Charles Taffs, president of the Commercial Farmers’ Union of Zimbabwe, said on Tuesday an opportunity has been missed to inject sound legal framework that would clear contentious issues around land.
“Many questions regarding the specifics of secure tenure to agricultural land, effectiveness of a new land commission, the limitations of state powers as regards 99-year leases and so on, remain unanswered by this draft,” said Taffs.
“Agricultural investors and financiers of agriculture will therefore continue to adopt a cautious approach until it is clear that land can be leveraged as security and has a real market value.”
He said the draft constitution would ensure the proposed audit by the unity government is avoided and the status quo is entrenched.