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

1.3k

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Your email address will not be published.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

FinanceNewsWorld

Senegal’s Power Cuts Force Government to Push Gas as the Long-Term Fix

Senegal’s energy minister says the power cuts that hit the country hard...

NewsWorld

Ethiopia and Eritrea Cut Diplomatic Ties as Tigray Conflict Escalates

Ethiopia and Eritrea have severed diplomatic relations as renewed fighting in northern...

NewsPoliticsTechnology

Tinubu Cannot Even Speak for Himself, Nigerians Say After Edited Broadcast Exposed

Nigerians on social media have accused the Presidency of manipulating President Bola...

NewsPolitics

Tinubu’s Cancer Analogy Backfires as Nigerians Remind Him He Was in Power Since 2015

President Bola Tinubu’s attempt to paint himself as the leader who inherited...