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

988

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Your email address will not be published.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

NewsSecurityWorld

Bandits Hosted a TikTok Giveaway and Nigerians Happily Dropped Their Account Numbers

A disturbing new low has been uncovered on social media after reports...

NewsTechnologyWorld

Nigerians Debate Fairness of MTN Pricing as User Compares Costs with South Korea

A fresh debate over telecom tariffs has erupted on social media after...

NewsSecurityWorld

Mali Military Places 2 Billion CFA Bounty on Top Jihadist Leader Iyad Ag Ghaly

Mali’s military has placed a massive bounty on the head of Iyad...

EducationNewsSecurity

Concerns Rise Over Anonymous Alert of Planned Terrorist Attack on University of Nigeria, Nsukka

Tension has gripped the University of Nigeria, Nsukka following an anonymous alert...