Zimbabwe Agrees to Pay $3.5 Billion Compensation to White Farmers
Posted on: 07/31/2020 11:56 PM

It's about time. Then again, that nation is dead broke.


HARARE (Reuters) - Zimbabwe agreed on Wednesday to pay $3.5 billion in compensation to white farmers whose land was expropriated by the government to resettle black families, moving a step closer to resolving one the most divisive policies of the Robert Mugabe era.

But the southern African nation does not have the money and will issue long term bonds and jointly approach international donors with the farmers to raise funding, according to the compensation agreement.

Two decades ago Mugabe’s government carried out at times violent evictions of 4,500 white farmers and redistributed the land to around 300,000 Black families, arguing it was redressing colonial land imbalances.

The agreement signed at President Emmerson Mnangagwa’s State House offices in Harare showed white farmers would be compensated for infrastructure on the farms and not the land itself, as per the national constitution.

Details of how much money each farmer, or their descendants, given the time elapsed since the farms were seized, was likely to get were not yet clear, but the government has said it would prioritise the elderly when making the settlements.


Zimbabwe Agrees to Pay $3.5 Billion Compensation to White Farmers




Farmers would receive 50% of the compensation after a year and the balance within five years.

Finance Minister Mthuli Ncube...

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