No compensation for Zim’s white farmers, at least not this year

White farmers who lost their land in Zimbabwe will have to wait another year for compensation.

The country’s finance minister said on Tuesday the government had deferred payment of the first tranche because of delays in finding a financial adviser and the impact of Covid-19.

Last year, the government agreed to pay half of the $3.5bn (about R51bn) compensation by the end of this month and the rest over five years.

Last year, the government agreed to pay half of the $3.5bn (about R51bn) compensation by the end of this month and the rest over five years to those whose land was expropriated by the government to resettle black families.

But Mthuli Ncube said it had taken longer than expected to appoint financial advisers, who would help raise money through issuance of domestic and foreign bonds, among other options.

“The parties therefore agreed to extend the period for the first payment from 31 July 2021 to 31 July 2022,” Ncube said.

Compensating the farmers is seen as an important step in resolving one of the most divisive policies of the Robert Mugabe era and improving ties with the West.

Ncube said the government set aside $23.5 million (about R342m) in this year’s budget as relief payment to distressed farmers. 

— Reuters