Zimbabwean government secures $1 mln as former farmer compensation

Zimbabwe’s government has secured $1 million that will go towards the payment of compensation to white former farm owners. This was agreed in the Global Compensation Deed that was signed last year. The government signed the GCD with the former farmers whose land was repossessed for resettlement of landless indigenous Zimbabweans.

Finance and Economic Development Minister professor Mthuli Ncube confirmed the development saying the money was secured from a dividend paid on Government's shareholding in Kuvimba Mining House. The first dividend from this long term shareholding was paid on June 23.

"An amount of $1 million was declared in favor of the fund for compensating former farm owners and this amount will be applied towards partial settlement of the agreed global compensation figure. Subsequently dividends will be paid quarterly and applied in the same manner," Minister Ncube said in a statement.

Source: allafrica.com


Photo source: Dreamstime.com


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