Home News Finance Zimbabwe Starts $20 Million Payout to Farmers Affected by Mugabe-led Land Invasions in the 2000s
FinanceNews

Zimbabwe Starts $20 Million Payout to Farmers Affected by Mugabe-led Land Invasions in the 2000s

974

Zimbabwe will pay an initial $20 million this month to farmers whose land was seized during the country’s controversial land reform program in the early 2000s. The compensation will go to foreign white farmers and Black Zimbabweans, according to the government. The land seizures, orchestrated by then-President Robert Mugabe, largely targeted white-owned farms, but some foreign farmers and locals were also affected.

This payment is part of efforts to revive Zimbabwe’s struggling agricultural sector, which suffered a sharp decline after the land grabs. The government hopes this move will aid economic recovery and resolve longstanding tensions. In 2020, a larger $3.5 billion compensation plan for 4,000 white Zimbabwean farmers was announced, but financial constraints have reportedly delayed its implementation.

Finance Minister Mthuli Ncube revealed that the country is also engaging with international creditors, including the IMF, to address its $12 billion foreign debt. An IMF team is expected to visit soon to discuss debt relief measures.

Read More:

About The Author

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

NewsTravelWorld

Ghana and South Korea Sign First Visa Waiver Agreement in Nearly 50 Years of Diplomatic Relations

Ghana and South Korea have signed a historic visa waiver agreement for...

NewsPoliticsSecurity

Nigerians Call Out Tinubu for Letting States Beg for Their Own Security to Avoid Taking Responsibility

The pattern is now unmistakable. Every time a serious security threat emerges...

News

JNIM Kills 47 Beninese Soldiers as Sahel Crisis Expands Toward Nigeria

The Sahel crisis has crashed through Benin’s northern frontier with a brutality...

NewsPoliticsTechnology

INEC Faces Fresh Crisis as Political Aide Accesses Restricted Voter Database

First, a chairman who does not exist tweeted. Then, a politician’s aide...