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

1.1k

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Your email address will not be published.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

NewsTravelWorld

Nigeria and Canada Sign Direct Flight Agreement Amid Infrastructure, Safety Concerns

Nigeria and Canada have signed an expanded air transport agreement that will,...

EducationNewsSecurity

Tinubu Approves Recruitment of 3,252 PTA Teachers as Unity Colleges Face 3,500 Deficit and Security Crisis

President Bola Tinubu has approved the recruitment of 3,252 verified Parent-Teacher Association...

HealthNews

DR Congo Ebola Cases Surpass 4,000 for First Time as Outbreak Becomes Fastest Spreading on Record

The Democratic Republic of Congo’s confirmed Ebola cases have risen above 4,000...

Human RightsNewsPolitics

Abia Assembly Passes Law to Protect Tenants from Exploitation by Landlords, House Agents

The Abia State House of Assembly has passed a new law establishing...