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
