Approximately 1,300 White Zimbabwean commercial farmers, whose land was seized in the early 2000s, have signed up for compensation, which will be issued in 10-year treasury bills, according to a government official.
Andrew Bvumbe, head of debt management in the Ministry of Finance, stated on Friday that the next step involves vetting these farmers and confirming the amounts owed to them.
“We aim to expedite this process. Hopefully, by the end of the third quarter this year, we will have addressed these claims,” Bvumbe said.
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The initiative is part of a 2020 agreement in which the government pledged to compensate 4,000 White farmers for the improvements made to their farms, rather than the land itself. The total compensation is estimated to cost $3.5 billion over a decade. However, the government has consistently missed payment deadlines.
Bvumbe expressed hope that successful initial payments might encourage more farmers to participate in the compensation process. “If others see that we are taking action, they might also come forward to be part of the process,” he added.
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