Zimbabwe to revive farming sector with $20 Million disbursement to farmers

The Zimbabwean government plans to provide an initial $20 million compensation to both foreign and local Black farmers for land lost during the invasions under former leader Robert Mugabe at the turn of the century, Finance Minister, Mthuli Ncube announced on Friday.

Credible news sources say that the compensation is part of the 2024 budget, aimed at a series of measures to restore Zimbabwe’s agricultural sector, which once played a vital role in the country’s economy.

The initiative is expected to kickstart economic recovery by revitalizing the farming industry.

Agriculture in Zimbabwe collapsed after Mugabe’s government seized highly productive farms in 2000.

These farms, mostly owned by white commercial farmers, had been taken from Black Zimbabweans during the colonial period in the early 20th century.

In addition to white farmers, foreign nationals and Black Zimbabweans also lost land in the often chaotic and disorganized land seizures, many of which benefited those with ties to the ruling Zanu-PF party.

Compensation will be given to foreign farmers from countries such as Belgium and Germany, along with 400 Black Zimbabweans, Ncube stated.

In 2020, a separate and much larger $3.5 billion compensation scheme was announced for 4,000 white Zimbabwean farmers. However, due to Zimbabwe’s ongoing financial difficulties, that money has yet to be paid.

Since replacing Mugabe in a 2017 coup, President Emmerson Mnangagwa has been working to reestablish relations with Western governments, address Zimbabwe’s substantial foreign debt, and revitalize the economy. However, last year’s elections widely regarded as neither free nor fair have further damaged donor confidence.