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

728

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Your email address will not be published.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

Congo and Rwanda Move Toward Peace as US Pushes for Stability and a New Minerals Pact

The leaders of the Democratic Republic of Congo and Rwanda came to...

NewsPoliticsWorld

Tinubu Expands Ambassadorial List to 65 Nominees Amid Growing Debate

President Bola Tinubu has sent a new, expanded ambassadorial list to the...

NewsSecurityTravel

Yuletide Airfare Surge: Domestic Flights in Nigeria Break N300,000 Amid Security and Economic Pressures

As Nigerians prepare for the holiday season, airfares on key domestic routes...

NewsWorld

Niger Welcomes UN Security Council Resolution Supporting Morocco’s Plan for Western Sahara

Niger has formally welcomed the adoption of a new United Nations Security...