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

844

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Your email address will not be published.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

Ghana Records Lowest Inflation in Five Years

Ghana’s inflation has fallen to its lowest level in five years, offering...

NewsSecurityWorld

Rebel Group Targets Kisangani Airport in Escalation of Congo Conflict

A rebel coalition in the Democratic Republic of Congo has claimed responsibility...

NewsTravelWorld

Ghana to Rename Kotoka International Airport

Ghana’s government is preparing to rename the country’s main international gateway, Kotoka...

NewsWorld

Russia Congratulates Ibrahim Traoré on Assuming AES Presidency

Russia has congratulated Burkina Faso’s President, Captain Ibrahim Traoré, on his assumption...