A new political dawn in Zimbabwe has sparked talk among farmers of land reform and the return of some whites who lost their land and livelihoods to President Robert Mugabe during a 37-year rule that drove the economy to collapse.

Mugabe, 93, resigned in November after the army and his ZANU-PF party turned against him, prompting optimism among some of the thousands of white farmers ousted in the early 2000s on the grounds of redressing imbalances from the colonial era.

For colonialists seized some of the best agricultural land that remained in the hands of white farmers after independence in 1980 leaving many blacks effectively landless and making land ownership one of Zimbabwe’s most sensitive political topics.

Now some white landowners hope the post-Mugabe regime may address the land issue, either through compensation or returning land, and try to resuscitate a once vibrant agricultural sector boosting an economy once seen as one of Africa’s great hopes.

“We are convinced positive signals will come quickly in terms of property rights,” Ben Purcel Gilpin, director of the Commercial Farmers Union (CFU), which represents white and black farmers, told the Thomson Reuters Foundation. “It would send a good signal to people outside Zimbabwe.” 

New president and long-time Mugabe ally, Emmerson Mnangagwa, has promised a raft of changes since he took office, including a return to the rule of law and respect for property rights.

Land ownership has been a key issue for decades in Zimbabwe dating back to British colonial rule in what was then Rhodesia.

At independence, white farmers owned more than 70 percent of the most fertile land and generated 80 percent of the country’s agricultural output, according to academics.

Reforms began after independence with a “willing buyer, willing seller” system aimed at redistributing land to poor black subsistence farmers. In the 1990s, compulsory acquisition of land began with some funding provided by Britain.

But for many Zimbabweans change was too slow and Mugabe approved radical land reforms that encouraged occupation of some 4,000 white-owned farms. Land went to his supporters with no knowledge of farming and thousands of white farmers fled.

The violent farm seizures saw Zimbabwe forfeit its status as the bread basket of Africa and led to a collapse of many industries that depended on agriculture. Among those were paper mills, textile firms, leather tanners and clothing companies.

As a result the country failed to generate foreign currency, resulting in the central bank printing money which led to unprecedented levels of hyper-inflation and high unemployment.

New start

Now some white farmers are starting to reclaim their land.

“White commercial farmers, like all other Zimbabweans, could apply for land from the Government and join the queue or go into joint ventures,” Mnangagwa told a former white commercial farmer during a recent visit to Namibia.

The CFU’s Gilpin – who quit farming and moved to Harare after his farm was compulsorily acquired by the government in 2005 – said sound policies from the new team could win support and help the economy.

He said compensation rather than putting people back into their properties might be the best route as many farmers are now too old to farm, some had died and others migrated.

The current situation – where resettled farmers had 99-year leases – was also untenable as the leases were not accepted by banks as collateral against borrowing.

Gilpin said this effectively made the land dead capital, as banks could not sell if farmers failed to pay back loans, so the government should instead offer farmers freehold titles.

Property rights expert Lloyd Mhishi, a senior partner in the law firm Mhishi Nkomo Legal Practice, said although Mnangagwa spoke about compensating farmers whose land was expropriated, he did not give specifics and title deeds of the former white farmers had no legal force after repossession.

Political way out

“As far as the law of the country is concerned, the title deeds that the former white commercial farmers hold do not guarantee them title,” Mhishi said in an interview.

But the lawyer said there were positive signs that the new administration realised land was a vital cog in the economy.

“I see there will be an attempt to make land useful, productive,” he said. “The land tenure side needs to be addressed to make land useful.”

Independent economist John Robertson, a former Advisor to the Reserve Bank of Zimbabwe, said, however, that any idea of compensation should be dropped and former white commercial farmers should get back to their land and resume work.

“I’d rather see them get back their land and start farming again than paid out and emigrating. We need their skills. If people who oppose that idea could be just successful, where have they been for the past 20 years?” he said.
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A new political dawn in Zimbabwe has sparked talk among farmers of land reform and the return of some whites who lost their land and livelihoods to President Robert Mugabe during a 37-year rule that drove the economy to collapse.

Mugabe, 93, resigned in November after the army and his ZANU-PF party turned against him, prompting optimism among some of the thousands of white farmers ousted in the early 2000s on the grounds of redressing imbalances from the colonial era.

For colonialists seized some of the best agricultural land that remained in the hands of white farmers after independence in 1980 leaving many blacks effectively landless and making land ownership one of Zimbabwe’s most sensitive political topics.

Now some white landowners hope the post-Mugabe regime may address the land issue, either through compensation or returning land, and try to resuscitate a once vibrant agricultural sector boosting an economy once seen as one of Africa’s great hopes.

“We are convinced positive signals will come quickly in terms of property rights,” Ben Purcel Gilpin, director of the Commercial Farmers Union (CFU), which represents white and black farmers, told the Thomson Reuters Foundation. “It would send a good signal to people outside Zimbabwe.” 

New president and long-time Mugabe ally, Emmerson Mnangagwa, has promised a raft of changes since he took office, including a return to the rule of law and respect for property rights.

Land ownership has been a key issue for decades in Zimbabwe dating back to British colonial rule in what was then Rhodesia.

At independence, white farmers owned more than 70 percent of the most fertile land and generated 80 percent of the country’s agricultural output, according to academics.

Reforms began after independence with a “willing buyer, willing seller” system aimed at redistributing land to poor black subsistence farmers. In the 1990s, compulsory acquisition of land began with some funding provided by Britain.

But for many Zimbabweans change was too slow and Mugabe approved radical land reforms that encouraged occupation of some 4,000 white-owned farms. Land went to his supporters with no knowledge of farming and thousands of white farmers fled.

The violent farm seizures saw Zimbabwe forfeit its status as the bread basket of Africa and led to a collapse of many industries that depended on agriculture. Among those were paper mills, textile firms, leather tanners and clothing companies.

As a result the country failed to generate foreign currency, resulting in the central bank printing money which led to unprecedented levels of hyper-inflation and high unemployment.

New start

Now some white farmers are starting to reclaim their land.

“White commercial farmers, like all other Zimbabweans, could apply for land from the Government and join the queue or go into joint ventures,” Mnangagwa told a former white commercial farmer during a recent visit to Namibia.

The CFU’s Gilpin – who quit farming and moved to Harare after his farm was compulsorily acquired by the government in 2005 – said sound policies from the new team could win support and help the economy.

He said compensation rather than putting people back into their properties might be the best route as many farmers are now too old to farm, some had died and others migrated.

The current situation – where resettled farmers had 99-year leases – was also untenable as the leases were not accepted by banks as collateral against borrowing.

Gilpin said this effectively made the land dead capital, as banks could not sell if farmers failed to pay back loans, so the government should instead offer farmers freehold titles.

Property rights expert Lloyd Mhishi, a senior partner in the law firm Mhishi Nkomo Legal Practice, said although Mnangagwa spoke about compensating farmers whose land was expropriated, he did not give specifics and title deeds of the former white farmers had no legal force after repossession.

Political way out

“As far as the law of the country is concerned, the title deeds that the former white commercial farmers hold do not guarantee them title,” Mhishi said in an interview.

But the lawyer said there were positive signs that the new administration realised land was a vital cog in the economy.

“I see there will be an attempt to make land useful, productive,” he said. “The land tenure side needs to be addressed to make land useful.”

Independent economist John Robertson, a former Advisor to the Reserve Bank of Zimbabwe, said, however, that any idea of compensation should be dropped and former white commercial farmers should get back to their land and resume work.

“I’d rather see them get back their land and start farming again than paid out and emigrating. We need their skills. If people who oppose that idea could be just successful, where have they been for the past 20 years?” he said.
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Many refugees would like to buy low-carbon stoves and lights but poor access in camps and a lack of funding is forcing them to rely on “dirty and expensive” fuels, a report said Tuesday.

Millions of refugees worldwide struggle to access energy for cooking, lighting and communication and often pay high costs for fuels like firewood, which are bad for their health.

Yet two-thirds would consider paying for clean cookstoves and more than one-third for solar household products, according to a survey by the Moving Energy Initiative (MEI), a partnership among Britain, the United Nations and charities.

“Energy providers don’t tend to think of refugees as potential energy consumers, but the opportunities to build a relationship with them are huge,” Mattia Vianello, one of the report’s authors, told the Thomson Reuters Foundation by phone.

Clean energy for refugees is a global priority for the U.N. refugee agency, which provides free solar power to thousands of displaced people in camps in Jordan and Kenya.

Campaigners are seeking to create a market for cleaner-burning stoves and fuels to supply millions of households worldwide that are using inefficient, dangerous methods.

Perilous smoke

When burned in open fires and traditional stoves, wood, charcoal and other solid fuels emit harmful smoke that claims millions of lives each year, according to the Clean Cooking Working Capital Fund, which promotes stoves that produce less pollution.

In Uganda, refugees collect wood from surrounding areas, “devastating” the local environment and creating tensions with locals, Raffaela Bellanca, an energy adviser with the charity Mercy Corps, said in emailed comments.

Humanitarians should work with the private sector to provide more sustainable energy to displaced people, said the report, which surveyed about 500 refugees, business owners and aid workers in Burkina Faso and Kenya.

“Refugee camps have the potential to become energy innovation hubs with a spillover effect on surrounding host communities,” Bellanca said.
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A colorful paint job has transformed one of Mumbai’s drab hilltop slums into a tourist destination, even prompting comparisons with Italy’s picturesque Amalfi Coast.

During a recent journey on a Mumbai metro train, Dedeepya Reddy was struck by the grim appearance of a slum in Asalpha in the city’s eastern suburbs as she stared out from her air-conditioned carriage.

Reddy, a Harvard University-educated co-founder of a creative agency, was keen to brighten the lives of slum residents, while also changing the perception of slums being dirty and dangerous, and decided on a simple makeover.

Armed with dozens of cans of colorful paint, Reddy and a team of about 700 volunteers painted the walls and alleyways of the hilltop slum over two weekends last month.

Residents, at first skeptical, also got involved and helped paint quirky murals, the 31-year-old said.

“When you look at slums, you think they are shabby and dirty, and that also becomes a reflection of the people who live there,” Reddy told the Thomson Reuters Foundation.

“We used bright colors to change how slums and their residents are viewed. It also gives residents a sense of pride and dignity about their homes.”

Up to 37 million households, or about a quarter of India’s urban population, live in informal housing including slums because of an acute shortage of affordable housing, according to social consultancy FSG.

In space-starved Mumbai, which has some of the priciest real estate in the world, the shortage is even more critical, with hundreds of migrants from rural areas cramming into the city every day to seek better prospects.

Reddy’s Chal Rang De (Let’s Color It) charity has seven other slums, similarly situated on hillocks, on its wishlist, she said.

Locals and tourists have thronged Asalpha in recent weeks, posting pictures on Instagram which have drawn comparisons to Italy’s Amalfi Coast.

Their interactions with residents are a welcome change, Reddy said.

For resident Aparna Chaudhuri, who has lived in Asalpha for about a dozen years, the paint job was welcome.

“Earlier, our house looked dull. Now it looks good,” said Chaudhuri, who picked pink for her home. “Everyone is also keeping the neighborhood clean now.”
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Hackers who stole around $530 million worth of cryptocurrency from the Coincheck exchange last week — one of the biggest such heists ever — are trying to move the stolen “XEM” coins, the foundation behind the digital currency said on Tuesday.

NEM Foundation, creators of the XEM cryptocurrency, have traced the stolen coins to an unidentified account, and the account owner had begun trying to move the coins onto six exchanges where they could then be sold, Jeff McDonald said.

Hackers made off with roughly $533 million worth of the cryptocurrency from Tokyo-based exchange Coincheck Inc late last week, raising fresh questions about security and regulatory protection in the booming market. The location of the hackers’ account was not known.

“(The hackers are) trying to spend them on multiple exchanges. We are contacting those exchanges,” Singapore-based McDonald told Reuters.

NEM Foundation spokeswoman Alexandra Tinsman said the hacker had started sending out “XEM” coins to random accounts in 100 XEM batches, worth about $83 each.

“When people look to launder these types of funds, they sometimes spread it into smaller transactions because it’s less likely to trigger (exchanges’) anti-money laundering (mechanisms),” said Tom Robinson, co-founder of Elliptic, a cryptocurrency security firm in London.

Robinson said such hopping among different cryptocurrencies was becoming more prevalent among cybercriminals trying to cover their tracks.

The coins that the hackers had taken made up around 5 percent of the total supply of XEM, the world’s 10th biggest cryptocurrency, according to trade website Coinmarketcap.

McDonald said the hackers were unlikely to try to spend anything close to all of the stolen cryptocurrency at once, because the “market simply couldn’t absorb that much.”

If the hackers successfully moved the coins to an exchange, they were likely to try to swap them into another cryptocurrency before transferring the coins back into a conventional currency, he said. That would make the funds difficult or near impossible to trace.

“I would assume that they are going to get away with some of the money,” McDonald said.

At least three dozen heists on cryptocurrency exchanges since 2011 are known; many of the hacked exchanges later shut down. More than 980,000 bitcoins have been stolen, and few have ever been recovered.

In 2014, Tokyo-based Mt. Gox, which once handled 80 percent of the world’s bitcoin trades, filed for bankruptcy after losing bitcoins worth around half a billion dollars — then the biggest ever such heist, which triggered a huge sell-off in bitcoin.

“It shows how far the industry has come that a hack of this scale isn’t really an issue,” said Robinson at Elliptic. “This is just kind of a blip.”

As of 17:44 GMT, XEM was trading at around $0.83 per coin, with a total market value of around $7.5 billion. That was around 20 percent lower than trading levels on Friday, when the hack was announced, but XEM is still up almost 300 percent over the past two months.

Japan’s Financial Services Agency (FSA) on Monday ordered improvements to operations at Coincheck, which on Friday suspended trading in all cryptocurrencies except bitcoin.
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Middle Eastern countries should pursue fiscal policies to support growth and build broader tax bases to fund infrastructure projects and social spending, the head of the International Monetary Fund said Tuesday.

“A key priority is building broader and more equitable tax bases. All must pay their fair share, while the poor must be protected,” IMF Managing Director Christine Lagarde told an economic conference in Marrakech, organized by the Washington-based fund and the kingdom.

That would allow them to spend more on social safety nets, health and education services than the current 11 percent of gross domestic product in the region. “Fiscal policy can and must be redesigned to support inclusive growth in the region,” Lagarde said.

More efforts are also needed to support the private sector, she said. The state, the dominant employer in many Arab countries with their young populations, can no longer hire newcomers to the labor market.

“This, too, can help make room for high-return social and infrastructure outlays,” Largarde said, adding that better access to finance, a more favorable business environment and fewer barriers such as red tape were necessary.

“Protracted regional conflicts, low commodity prices, weak productivity and poor governance have held back the considerable potential of the region,” the final statement issued by the IMF and two other international bodies said.

“Growth has not been strong enough to reduce unemployment significantly, and a staggering 25 percent of young people are jobless,” it added.
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As trade tensions grow between the United States and China, there is concern among foreign companies in China that a possible trade war between the two countries could leave them caught in the crossfire.

 

President Donald Trump has been ratcheting up trade pressure on China, and a senior administration official has said the U.S. leader would be “emphasizing the fair and reciprocal nature of trade” in his State of the Union speech Tuesday.

 

Already, Trump has issued what some believe could be the opening salvo in a more intense showdown over trade, recently slapping stiff import tariffs on solar panel imports and washing machines. More trade actions could be announced soon.

 

“If that does go forward, I have been told by certain officials [in China] that yes, definitely, there will be retaliation,” said William Zarit, chairman of the American Chamber of Commerce in China, or AmCham China. “And what we’ve been telling our interlocutors is that if there is some kind of tariff and if the Chinese do want to retaliate, they do so maturely and with precision so as to not actually adversely affect their own economy.”

 

Zarit spoke on Tuesday at the launch of AmCham China’s annual survey on the business climate in the world’s second-largest economy. The survey for 2017 was conducted at the time of Trump’s visit late last year and cited growing optimism among members about the outlook for growth and investment in China.

 

Seventy-eight percent of the respondents said that positive relations between the U.S. and China are extremely important or very important, compared with 64 percent in 2015.

Three out of every four companies surveyed, however, said they still feel unwelcome in China. One key driver of that perception – regulatory barriers for foreign companies and unfair treatment relative to local ones, the survey found.

 

While no one wants a trade war, the survey found that more than 60 percent are advocating for the U.S. government to take actions to help correct trade imbalances.

 

Zarit said some have grown weary of years of negotiations on trade and investment issues between the governments and think Washington should use pressure.

 

“Strictly just dialogue has not really brought much in terms of progress. So, perhaps some pressure will help get us more progress to a more balanced economic and commercial relationship,” he said.

 

Seeking ‘level playing field’

According to the survey, 27 percent of its business members “advocate more strongly for a level playing field” for U.S. businesses in China. Another 19 percent want the U.S. government to “apply investment reciprocity as an approach to improve market access in China.”

 

A third group comprising 14 percent of AmCham members wants Washington to pursue a new multilateral trade agreement that would include the U.S. replacing the Trans-Pacific Partnership, or TPP.

 

One of Trump’s first actions in office was to pull the United States out of the TPP, but last week at the World Economic Forum in Davos, he hinted at a possible path back toward the TPP or something similar to the trade agreement.

Lester Ross, head of AmCham China’s policy committee, said American companies should be ready to deal with harsh measures and other forms of retaliation from Beijing.

“I don’t think any company wants to absorb or make a sacrifice for trade relations, but I think some companies will inevitably suffer some repercussions if there are trade frictions between the two countries,” he said. “They [U.S. companies] have to consider that possibility.”

 

Ross said retaliation from the Chinese government could include measures targeting the airline and agriculture sectors, and possibly affecting industries and communities where support for Trump was strong during the elections.

 

“It would be likely that they [Chinese] will target sectors that have political resonance in the United States, and particular products or commodities,” he said.

Rising friction over trade is not the only way companies doing business in China could be caught in the middle.

 

As part of Trump’s efforts to exert more pressure on North Korea, he previously has complained that China is not doing enough and used the threat of possible trade actions as a carrot and stick to try to get Beijing to do more.

Some analysts said the Trump administration might go slowly on trade remedies against China if Beijing does more to help Washington in resolving the North Korea problem.

But that, in turn, could distract Washington from its plans to deal with what the U.S. sees as Beijing’s unfair trade practices.

Zarit said AmCham members also want the North Korea issue to be resolved as peacefully as possible.

 

“We also hope that our needs for addressing the structural imbalances in the relationship are not sacrificed in the process,” he said.

 
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French consumer fraud authorities are investigating a promotional campaign for Nutella that prompted scuffles in several supermarkets – and even a police intervention.

The Finance Ministry’s fraud agency said Tuesday it will examine whether the campaign by the Intermarche supermarket chain violated pricing regulations. An official with the agency would not give further details.

Intermarche drew big crowds at several stores last week after announcing sales of the chocolate and hazelnut spread for just 1.41 euros ($1.74), some 70 percent below the regular price.

Video circulated online of ensuing scuffles in some stores, drawing worldwide attention – and questions from authorities.

Nutella manufacturer Ferrero has distanced itself, saying Intermarche is entirely responsible.

The investigation comes as the government prepares to present a draft law this week aimed at stricter and clearer regulation for big retailers.
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