Chronicle Editor
Debra Matabvu, Online Reporter
GOVERNMENT has started the first phase of compensating former white commercial farmers who were affected by the Fast Track Land Reform Programme in 2000.
The farmers were protected under the Bilateral Investment Protection and Promotion Agreements (BIPPAs).
In a statement on Thursday, the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube said the move to compensate the farmers is part of an agreement between Government and its creditors to facilitate the clearance of the country’s external debt.
“The Government of Zimbabwe developed and adopted in 2021, the Arrears Clearance, Debt Relief and Restructuring Strategy to facilitate the process for the clearance of the country’s external payment and resolution of debt,” he said.
“Pursuant to this, the Government of Zimbabwe established in December 2022, a structured dialogue platform to institutionalise engagement with all its creditors and development partners towards arrears clearance and debt resolution, premised on reforms in economic, governance and land tenure areas.”
Minister Ncube said Government set aside US$20 million in the 2024 National Budget towards the compensation of white farmers.
“The Government made a provision of US$20 million in its 2024 National Fiscal Budget towards the financial compensation of farmers protected under BIPPAs,” he said.
“The allocation is targeted towards compensating farmers whose farms were acquired and who are nationals of countries that signed BIPPAs with Zimbabwe before the commencement of the Fast Track Land Reform programme, that is BIPPAs that were ratified before the year 2000.
Government is also inviting qualifying farmers who choose the financial compensation option to submit applications for compensation.
Online Reporter