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

1.4k

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Your email address will not be published.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

FinanceNewsPolitics

Tinubu Says It’s Not How Much Nigeria Borrows But What It Builds, As Debt Hits N166.79 Trillion and Abandoned Projects Pile Up

President Bola Tinubu has defended his administration’s aggressive borrowing plans, arguing that...

NewsSportsWorld

Afcon Returns to Two-Year Cycle After Caf Reverses Four-Year Plan

The Africa Cup of Nations will return to its traditional two-year cycle...

NewsWorld

Tanzania and Angola Agree to Link Atlantic and Indian Ocean Rail Corridors

Tanzania and Angola have agreed to connect their Indian Ocean and Atlantic...

NewsPoliticsTechnology

INEC Admits Officers Were Compromised as AI Images Enter Voters Register

The Independent National Electoral Commission has admitted that some of its registration...