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Govt Wants To Change US$3.5 Billion Farmer Deal After Missing Payments

Govt Wants To Change US$3.5 Billion Farmer Deal After Missing Payments

The Government is seeking to change the terms of a US$3.5 billion compensation deal signed with white former farmers two years ago after twice missing agreed-to payments.

According to the original deal, white farmers whose land was compulsorily acquired by the government two decades ago should have received half the money within the first year, followed by four $437.5m annual installments.

The revised plan was part of Finance Minister Mthuli Ncube’s budget presented on Thursday. Speaking in reference to the new agreement, Ncube said:

Under the $3.5bn Global Compensation Deed in September 2022, the government made an offer for the settlement of the GCD which was accepted by former farm owners through a referendum.

The president of the Commercial Farmers Union (CFU), Andrew Pascoe, said they will hold talks with Ncube to understand what he meant.

Speaking to Bloomberg by phone, Pascoe denied that group members held a referendum on the terms. He said:

Considerable progress has been made, but we haven’t signed anything yet.

The new proposal sees US$350 million being paid over four years. That would include installments of US$35 million a year for three years and the balance in 2026 raised from selling the 12.5% stake the farmers hold in state-owned miner Kuvimba. Said Ncube:

The cash payments will be made in any jurisdiction in dollars to an account of former farm owners’ choice, payable biannually in February and July.

Ncube said the government will issue dollar-denominated treasury bonds to pay the remaining US$3.15 billion. | Bloomberg

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14 Comments

VYBZ KARTEL 2 months ago

Musavape kana kana cent. Who compensated our fore fathers when the white man took over our land.


Chimboti Pizza 2 months ago

@VYBZ KARTEL wataura chokwadi

AdRyan 2 months ago

Nhayi. Mari yacho ngaiwedzere kuHealth . Hanty mumwe kuJoni arutohumana kut blacks must be eliminated. I'm not being racist but truda ku**** towel rakaoma. Mari yekutambisa hatina . Kooo tunyengererei, kubvisirwa masunction😬😬🥱

Vesto 2 months ago

@VYBZ Ketero & @Chimodho, munofunga neku****. How many times do you have to be told that this compensation is NOT FOR LAND but for improvements. How many boreholes did Mbuya Nehanda drill? How many dams did Kaguvi construct? I shall not ask about houses, irrigation infrastructure, electricity, roads, fencing and re-aforestation


chasser 2 months ago

iwe vesto musoro wko jautori mushe kna nyika Yoda nzvimbo ya6o inotora painoda ma development ndeako hkozve Tora uende nawo wosiya mzvimbo


Vesto 2 months ago

You twit @chaser, farmers weren't even allowed to take tractors eith them or they were charged with sabotage. How can you take a house, dam or borehole with you?

Ndimi vanhu munofunga nekumudhi.dhi.

CC 2 months ago

Zanu not sticking to their word? Next you will be telling me the sun will rise tomorrow!


Mbuya Nehanda 2 months ago

vesto Ukwane mbuya nehanda Vai driller borehole rei they were fine vachinwa munzizi,,,Iwo mazirungu profit yavakaita is more than enough,,,MUSAVAPA KANA ONE BOND Nxaa,, development yaukutaura ikutibetsera yavasiya vaita ndeyechii kunze kwe ma homestead avanga vakavakisa vachishandisa vanhu vatema,,,Vesto msoro wako wakazara hwiza haufungi,, vana Kaguvi na Nehanda vavakagura msoro vano bhadharwa nani,,mombe vakadzi raider muno Havana kana kuuya nendove hayo


Vesto 2 months ago

Chiendai munwe mvura yemunaMukuvisi muchaye manyoka.

Chii chisvinu chakaitwa neZANU kubvira 1980?

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VYBZ KARTEL 2 months ago

Ukaona pazoitika nyaya dze violence panenge parohwa type dzana @ Vesto munhu asina self respect pakubatwa nhapwa nevarungu kwavakaita. Type yemunhu uyu anorohwa kuti apepuke muhope dzaari kurota.


Vesto 2 months ago

In 2008 ndakapihwa long sleeve @VYBZ Ketero. This time I will not wait kudairwa kubasa. Vanondiwana ndiriko, nedemo rangu.

This time I will definitely take two or more with me. If you want me, huya kuMash. East utsvage anonzi chioko.

Unondiwana.

Vesto 2 months ago

# kudaidzwa kuBase....

X 2 months ago

Compensating the white famers is the politically correct thing to do, socially & historically it's the wrong thing to do, iwo ma improvements amunotaura anditi akaitwa ne free labour from the oppressed masses, vachishandisa ma minerals from the land they stole, do you know kuti kwa munoti kuruzehva hakusi kumusha kwenyu, the word was derived from the word reserve, which was the not so fertal land where our ancestors were forced to relocate to after the colonizers took the most fertal land, then there was the animal husbandry act, the list is endless, who is going to compensate us the black masses who were economically, socially & politically exploited,


chasser 2 months ago

haaa vesto unenge wkarohwa mnyuwa nevarungu chte coz hauna kna brain iww Dai vkakubata uchichaya bonyora wakafa



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