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Govt Gets Funding For White Former Farmers

Govt Gets Funding For White Former Farmers

The government says some financiers are coming on board to help it honour its promise to pay US$3.5 billion to former commercial white farmers whose assets were expropriated during the land reform programme.

At least 4 000 white farmers were left landless after the government compulsorily acquired their farms during the land redistribution programme in the early 2000s.

Of the US$3.5 billion, the government is supposed to pay US$1.75bn at the end of this month.

The balance would be paid in instalments of US$437.5m per year for the next four years.

Speaking to Business Times, Foreign Affairs and International Trade deputy minister David Musabayana said:

There are some other players that are coming on board to help us compensate the farmers and there are other bonds that we are processing to raise money to pay out farmers.

We have started paying off the distressed farmers like the elderly and the sick and there are some budgets that were approved for the payments of farmers.

Commercial Farmers Union president Andrew Pascoe said:

We are carrying out a number of meetings with the government to map the way forward but so far nothing concrete has been agreed upon.

We are yet to reach any agreements and we will go back to our members after a week or two.

In 2021, the government paid US$1 million to former commercial farmers but commentators described the amount as too little since a total of US$3.5 billion should be paid within the next four years.

More: Business Times

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8 Comments

ZIMBA­čç┐­čç╝OG 1┬ámonth ago

you are paying farmers what about former farm workers who were in the fields working for some years ,where is their compensation


lkjhg 1 month ago

maybe they should engage their former employers seeing that they have been paid.I'm pretty sure the law will be on their side.

Dr Hei 1 month ago

Propaganda


totito 1 month ago

If there was no corruption, 1.75 billion is nothing for a country rich in resources like Zimbabwe. Zvino even if that money is raised some big chefs will want a cut. Regayi timbotarisa zvedu tione kunowira tsvimbo yapotsa dohwe


Mukadota 1 month ago

Ndiyo yainzi reengagement zviya!!!


Draw your 1 month ago

Draw your


inini 4ox 1 month ago

ahhh musavapa kana cent pliz


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Jah­čç┐­čç╝Tsvarie-07 1┬ámonth ago

Our tax money is paying for things that benefited the elite, truly the poor shall always be...



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