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Zimbabwe defers compensating white farmers by a year

Due to delays in finding a financial advisor and the impact of Covid-19.
Image: Bloomberg

Zimbabwe’s finance minister said on Tuesday the government had deferred by a year payment of the first tranche of compensation to white farmers who lost their land, due to delays in finding a financial advisor and the impact of Covid-19.

Last year, the government agreed to pay half of the $3.5 billion compensation by end of this month and the rest over five years to the farmers whose land was expropriated by the government to resettle black families.

But Mthuli Ncube said it had taken longer than expected to appoint financial advisors, who would help raise money through issuance of domestic and foreign bonds among other options.

“The parties therefore agreed to extend the period for the first payment from 31 July 2021 to 31 July 2022,” Ncube said in a statement.

Compensating the farmers is seen as an important step in resolving one of the most divisive policies of the Robert Mugabe era and improving ties with the West.

Ncube said the government set aside 2 billion Zimbabwe dollars ($23.5 million) in this year’s budget as relief payment to distressed farmers.

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They’ve set aside 0.6% of the money pledged…they simply have no shame

I know people have an emotional attachment to the land they farmed, but surely they realise all the same people that dispossessed them are all still there. There are no guarantees Zimbabwe can make that this will not happen again. The farmers could very well come back, rebuild, and then it could happen again for the same reasons.

Now there is another Ponzi scheme for you! A Zimbabwe landgrab bond or Mugabe Bond for short. International financial institutions will be falling over their feet to buy this investment that is backed by the excellent track record of the Mnangagwa government, I am sure. They just need the right financial adviser. How about Andries Niewoudt from Garies?

They will never pay the money.

After one year, one more year, then one more year until all elligable farmers pass away from old age.

Like a pyramid scheme.

Hollow promises made by hollow tyrants.

End of comments.

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