Harare, ( New Ziana) The Zimbabwe government has started fulfilling its commitment to compensate white former commercial farmers under the Global Compensation Deed (GCD) signed in 2020, a Cabinet Minister has said.
Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube said this in a statement on the Ministry official X handle ZimTreasury on Wednesday.
He said 740 farms have been approved for compensation by the Land Compensation Committee, with the government disbursing $3.1 million for the first batch of 378 processed farms, representing 1 percent of the total compensation claim value of $311 million.
The compensation payments are being made to interested individual farmers, marking a significant milestone in the country’s Arrears Clearance and Debt Resolution Process.
“The payments will continue. We are very serious about this. By settling our arrears, we can tap into long-term capital, essential for infrastructure development and significant investments,” said Professor Ncube.
The move is expected to boost the country’s economic growth and stability, as well as its re-engagement efforts with the international community.
Former president of the Commercial Farmers Union, Andrew Pascoe, acknowledged the significance of the development, describing it as “another momentous event” for the country’s agriculture and land reform policies.
The Government is confident that the compensation will boost the agricultural sector and contribute to long-term economic recovery.
New Ziana
