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Mthuli meets ex-farmers over compensation

Mthuli Ncube Rules Out Scrapping 2% Tax
Mthuli Ncube, is the Finance Minister in the Zimbabwe cabinet appointed by president Emmerson Mnangagwa and past chief economist and Vice President of the African Development Bank.

Finance and Economic Development Minister Professor Mthuli Ncube, who was in Bulawayo at the weekend, met with white former commercial farmers to share insights on Government’s plan to compensate them for the improvements made on the farms before the land reform programme.

The Government has set a US$3,5 billion budget to compensate former commercial farmers for the improvement they made on the land.

Treasury yesterday confirmed the meeting between Prof Ncube and some of the former farmers, in a statement posted on the Ministry’s official Twitter handle.

“Finance Minister engaged white commercial farmers in Bulawayo as Government steps up efforts to clear arrears, resolve its debt and agree on a compensation plan for farm improvements as part of the ongoing efforts to re-engage the international community and revive the economy,” reads the statement.

Economic analysts have said the compensation drive was critical to Zimbabwe’s debt and arrears strategy, which is now in motion.

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Compensating the former farmers is seen by analysts as key to resolving Zimbabwe’s debt and arrears.

In July 2020, the Government signed a deal with the former commercial farmers to compensate them to the tune of US$3,5 billion for improvements made on farms before the year 2000 when the agrarian reforms started.

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