Zimbabwe to Pay a Staggering $3.5 Billion Compensation to White Farmers
Zimbabwe caved into western pressure and agrees on Wednesday to pay $3.5 billion in compensation to white farmers whose land was expropriated by the government to resettle black families, moving a step closer to resolving one the most famous policies of the Robert Mugabe era.
The land seizures were one of Mugabe’s signature policies that soured ties with the West. Mugabe, who died last year, accused the West of imposing sanctions on his government as punishment for taking back its land.
20 years ago the late Zimbabwe president Robert Mugabe carried out mass evictions of around 4,500 white farmers and redistributed the land to around 300,000 Zibabween families, arguing it was redressing colonial land imbalances.
But The agreement signed by the Current President Emmerson Mnangagwa showed white farmers would be compensated only for the infrastructure on the farms and not the land itself, as per the national constitution. So it’s not as widely reported by International Medi houses that Zimbabwe is Compensation White farmland.
Details of how much money each farmer, or their descendants, given the time elapsed since the farms were seized, was likely to get were not yet clear, but the government has said it would prioritize the elderly when making the settlements.
Farmers would receive 50% of the compensation after a year and the balance within five years.
Ironically the southern African nation does not even have the funds to pay the white farmers and will issue long term bonds and jointly approach international donors with the farmers to raise funding, according to the compensation agreement.
The program still divides public opinion in Zimbabwe as opponents say that it left the country struggling to feed itself. while the government appeases the west.
Mnangagwa said the land reform could not be reversed but paying of compensation was key to mending ties with the West.