The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process

HARARE, ZIMBABWE – EQS Newswire – 8 February 2025 – The Government of the Republic of Zimbabwe is honouring its commitment to compensate investors protected by Bilateral Investment Protection and Promotion Agreements (BIPPAs), whose investments were affected by the Land Reform Programme in 2000. This follows the disbursement of funds from the US$20 million allocated for the compensation of BIPPA-protected farms in the 2024 National Budget.

The payments to farm owners under BIPPA-protection marks a historic milestone and a critical step in Zimbabwe’s Arrears Clearance and Debt Resolution Process.

Providing an update on the payments, the Minister of Finance, Economic Development, and Investment Promotion, Honourable Professor Mthuli Ncube stated, “I am pleased to announce that the compensation process has begun. We believe that this process is crucial for building trust, honouring our commitments, and ensuring consistency with our Constitution as we address Zimbabwe’s debt challenge.”

The payments towards the compensation of investors under BIPPA protection began in the second week of January 2025. Payments are being made to the claimants’ Bank accounts of choice.

Only claimants from countries with BIPPAs signed and ratified before the 2000 Land Reform Programme are eligible for compensation. 94 farms were approved for compensation. The claimants are from Denmark, Germany, the Netherlands, Switzerland and former Yugoslavia.

The Harare-based ambassadors of Germany, the Netherlands and Switzerland jointly welcomed the announcement: “The framework established by the Government of Zimbabwe leading to the full compensation of affected BIPPA farmers protected by Bilateral Investment Promotion and Protection Agreements, is indeed a historic achievement. We commend the Government’s allocation of funds in the National Budget as of 2024 to make the compensation a reality. Several affected investors have received initial payouts, and an emerging sense of closure exists. It marks a significant milestone, and we consider it a very encouraging step towards a comprehensive and fair settlement for farmers and investors in Zimbabwe, be it in terms of financial compensation or land tenure. Now, it is important for the Government to keep this positive momentum.”

The BIPPA farmers are being compensated for land and improvements on the farms in line with Section 295 (2) of the Constitution of Zimbabwe.

The President of the African Development Bank Group and the Champion of the Zimbabwe Arrears Clearance and Debt Resolution, Dr Akinwumi Adesina said, “The compensation demonstrates the Government’s goodwill and commitment to building trust in the process and improving investor confidence in the country. The progress Zimbabwe has made, the commitment and resilience it is showing, calls for support from development partners to facilitate the country’s effort in implementing on going reforms and to provide the much-needed cushion to particularly the vulnerable members of the population.”

The compensation of these investors is one of the key reforms under the Structured Dialogue Platform on the country’s Arrears Clearance and Debt Resolution Process. Zimbabwe aims to clear its arrears, resolve debt, and unlock new concessional external financing to achieve its development goals. The Government established in December 2022, a Structured Dialogue Platform (SDP) with all its creditors and development partners, to institutionalise engagement on economic and governance reforms to underpin the Arrears Clearance and Debt Resolution Process.

The Resolution of BIPPA-protected farms is under the auspices of one of the three Sector Working Groups (SWG) of the country’s Structured Dialogue Platform for Arrears Clearance and Debt Resolution Process. It falls under the Land Tenure Reforms, Compensation for Former Farm Owners, and the Resolution of BIPPAs SWG. This SWG is co-chaired by the Office of the President and Cabinet, Switzerland and the United Nations Development Programme. The other two SWGs are Economic Growth and Stability Reforms, and Governance Reforms.

At the last High-Level SDP Meeting held in Harare on 25 November 2024, His Excellency, Dr Emmerson Dambudzo Mnangagwa, the President of the Republic of Zimbabwe, reiterated the Government’s ownership of the Arrears Clearance and Debt Resolution Process, and his commitment to the implementation of reforms underpinning the Process, in line with the country’s National Development Strategy 1.

The resolution of BIPPAs is also part of the country’s engagement and re-engagement initiatives with the international community.

After disbursing the US$20 million from the 2024 National Budget for BIPPA-protected farms, the remaining US$125.9 million will be paid over four years (2025 to 2028) through annual fiscal allocations. Additionally, the Government has allocated another US$20 million in the 2025 National Budget for this purpose.

Table 1: Approved BIPPA Farms for Compensation

Country	Number of Farms Approved for Compensation	Farmers	Value (US$ millions)
Denmark	6	5	13.4
Germany	14	7	14.0
Netherlands	46	33	88.2
Switzerland	27	10	27.0
Former Yugoslavia	1	1	3.3
Total	94	56	145.9

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LAGOS, NIGERIA – Media OutReach Newswire – 8 February 2025 – Tolaram, the Singapore-headquartered owners and operators of Lagos Free Zone are proud to announce that the International Finance Corporation (IFC) has committed an equity investment of up to $50 million to support the development of Lagos Free Zone.

The investment, aimed at closing key infrastructure gaps to enhance Nigeria’s global competitiveness, will help accelerate the first phase development of the 860-hectare Lagos Free Zone through expanding land development, industrial facilities, and logistics infrastructure. Directly integrated with the Lekki Deep Sea Port, Lagos Free Zone is uniquely positioned to offer an efficient, unified industrial ecosystem that facilitates seamless import and export operations, positioning Nigeria as a critical player in global value chains.

By addressing critical infrastructure bottlenecks and improving connectivity, this investment is expected to open new business opportunities, strengthen Nigeria’s position as a leading regional economic hub, and contribute to the long-term prosperity of the nation.

“Tolaram’s businesses have a long-standing history in Nigeria and are deeply committed to unlocking the country’s economic potential. With the critical investments made in Lagos Free Zone, we are not only tackling infrastructure challenges but also creating a conducive environment for local and international businesses to thrive,” said Navin Nahata, Managing Director for Fintech and Infrastructure at Tolaram.

Adesuwa Ladoja, Managing Director/CEO of Lagos Free Zone Company, added, “IFC’s support represents a significant and positive recognition of our vision to establish Lagos Free Zone as a world-class industrial hub. This investment allows us to scale up the existing infrastructure to attract more foreign and local tenants while promoting sustainability and creating economic opportunities for Nigeria. Lagos Free Zone, integrated with Lekki Deep Sea Port, facilitates ease of doing business in Nigeria and supports the Federal Government of Nigeria’s drive for economic diversification and infrastructure development. We look forward to driving growth and delivering lasting impact through this transformative collaboration with the IFC.”

Lagos Free Zone is already home to several manufacturing brands like Kellogg’s, Dano Milk, Colgate, BASF, ADM, and Tata International as well as Lekki Port – Nigeria’s deepest and most advanced port.

30,000 direct, indirect, and induced jobs are expected to be created when the Lagos Free Zone is fully occupied, delivering long-term economic benefits to Nigeria. With the Nigerian economy projected to grow by 3.7% in 2026, investments of this nature are vital to ensuring the country’s sustained growth and economic resilience.

Dahlia Khalifa, IFC Regional Director for Central Africa and Anglophone West Africa, noted, “This investment reflects IFC’s commitment to fostering inclusive economic growth and sustainable development in Nigeria. Lagos Free Zone is poised to become a transformative hub for industrial activity, driving job creation and enhancing Nigeria’s competitiveness in global markets. We are proud to partner with Lagos Free Zone in building the infrastructure necessary to attract global and local businesses, enabling Nigeria to achieve its full economic potential.”

The investment in Lagos Free Zone also reflects IFC’s commitment to sustainable development, with a focus on green infrastructure. Approximately 15% of the investment is earmarked for climate-related initiatives, including Excellence in Design for Greater Efficiencies (EDGE)- certified buildings and climate-resilient infrastructure.

This investment aligns with Nigeria’s ongoing economic reforms and supports IFC’s broader strategic frameworks, including the World Bank Group’s Nigeria Country Partnership Framework (2021–2025) and its 2015 Climate Action Plan, both prioritising economic diversification, the development of competitive business clusters, and investments in climate-resilient infrastructure.

Hashtag: #Tolaram #LagosFreeZone #LekkiPort #IFC

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About Tolaram

Tolaram is a family-owned business, headquartered in Singapore, focused on investing in emerging market opportunities and building brands that drive economic growth. Since its founding in 1948, Tolaram has evolved from a single retail shop into a diversified global business with interests spanning consumer goods, fintech, infrastructure, and industrial sectors in Africa, Asia, and Europe.

Across Africa, Tolaram has established a significant presence through its consumer business. Through partnerships with global corporations such as Indofood, Arla Foods, Kellanova, Colgate-Palmolive, and Diageo, Tolaram manufactures and distributes a wide range of products, making it one of the continent’s largest consumer goods enterprises. Tolaram also owns and operates Nigeria’s first wholly owned private free trade zone with a deep seaport.

Tolaram also owns and operates a digital bank and an insurtech business in Indonesia as well as an integrated paper mill in Estonia.

Entries for the 2025 OnePlus Photography Awards are now open, celebrating mobile photography with global rewards and recognition

SHENZHEN, CHINA – Media OutReach Newswire – 7 February 2025 – Global technology brand OnePlus announced the launch of the 2025 OnePlus Photography Awards (OPA), now in its fifth year. From February 7 to June 30, 2025, mobile photography enthusiasts worldwide are invited to showcase their creativity and passion for photography under the theme “Make the Moment,” inspired by the iconic first moon landing captured by Hasselblad. This year’s awards continue to elevate the art of mobile photography and the innovation of mobile cameras.

“Make the Moment”: Showcasing Creativity Across Movement, Night, and Portrait

The 2025 theme, “Make the Moment,” celebrates the fleeting beauty of everyday life, turning it into timeless works of art. Participants can submit entries across three categories: Movement, Night and Low Light, and Faces.

“At OnePlus, we believe in empowering our users to create and share memorable moments with their phone cameras,” said Emily Dai, Head of Global Brand and Marketing at OnePlus. “The 2025 OnePlus Photography Awards are a testament to the endless possibilities of mobile photography and the global creativity it inspires. Together, we’re building a gallery of stories and emotions that transcend borders and connect us all.”

The “Movement” category invites photographers to capture the essence of motion, from the energy of speed and adventure to the subtle moments of everyday life. The “Night and Low Light” category showcases the magic of the world after dark, highlighting vibrant cityscapes, starlit skies, and dynamic low-light scenes. Lastly, the “Faces” category invites participants to capture the emotions and stories behind every face, from joyful smiles to heartfelt moments, turning portraits into powerful expressions of life.

“Winning the 2024 OnePlus Photography Awards has been a massive milestone. It’s not just recognition but also a reminder to keep pushing my creative boundaries. It’s motivated me to explore new ideas and stay curious,” said Harisanker Sasikumar, Category Winner of OPA 2024. “To everyone participating in the 2025 OnePlus Photography Awards, good luck. Embrace your unique vision, keep experimenting, and most importantly, have fun with it.”

Open to All: Global Recognition and Generous Rewards

This year, OPA is open to all smartphone users, celebrating creativity with inclusivity and generous rewards. The competition includes two groups: the OnePlus Group, exclusive to OnePlus users, and the Public Group, accessible to all smartphone users worldwide. The judging panel, featuring OnePlus founder Pete Lau, Hasselblad ambassadors, and renowned photographers, ensures diverse and fair evaluations.

The top winner will receive $10,000, while all winners will be awarded the flagship OnePlus 13 and potential collaboration opportunities with OnePlus. Additionally, winning entries and photographers’ stories will be showcased on global platforms like OnePlus and 500px, offering participants worldwide exposure and community engagement.

OnePlus 13: The Ultimate Phone to Make Your Moments

Continuing its partnership with Hasselblad, the OnePlus 13 introduces significant upgrades in mobile photography, empowering photographers of all levels to capture moments like never before.

With its flagship triple-camera system, the OnePlus 13 ensures unparalleled versatility, clarity, and image quality. Innovative features, such as the Dual Exposure Algorithm for dynamic, fast-moving scenes, Night Mode for vibrant low-light shots, and Portrait Mode for stunning, professional-quality portraits, make it the perfect tool for capturing Movement, Night, and Faces. Whether you’re photographing a playful pet, a bustling cityscape, or a beautiful portrait, the OnePlus 13 adapts to your creative needs, transforming ordinary moments into extraordinary works of art.

Entries are now open. Visit www.oneplus.com/photography-awards-2025 to submit your stories through the lens and join the global community to celebrate the creativity and innovation in mobile photography.
Hashtag: #OnePlus #OnePlusPhotoAwards #ShotonOnePlus

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About OnePlus

OnePlus is a global mobile technology brand that challenges conventional concepts of technology. Founded on the “Never Settle” mantra, OnePlus creates exquisitely designed devices with premium build quality and high-performance hardware. OnePlus thrives on cultivating strong bonds and growing alongside its community of users and fans.

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