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

1.2k

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Your email address will not be published.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

NewsWorld

Gambian Businesses Struggle Under Prolonged Blackouts as Anger Mounts Ahead of December Election

Gambian businesses are collapsing under the weight of prolonged power cuts that...

NewsSports

Chelle Names Osimhen, Lookman, Ndidi in 24-Man Super Eagles Squad for 2027 AFCON Qualifiers

Super Eagles head coach Éric Chelle has unveiled a 24-man squad for...

NewsWorld

Ghana Cuts Fuel Exports to Burkina Faso and Mali to Protect Its Own Supply

Ghana’s state-owned fuel distributor BOST Energies has reduced diesel and gasoline exports...