Zimbabwe to compensate ‘land grab’ farmers

Next year, Zimbabwe will pay US$53 million (R742 million) in compensation to white farmers whose farms were confiscated over the past 18 years and reallocated to black Zimbabweans.

Zimbabwe to compensate ‘land grab’ farmers

Next year, Zimbabwe will pay US$53 million (R742 million) in compensation to white farmers whose farms were confiscated over the past 18 years and reallocated to black Zimbabweans.

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In his 2019 budget statement, Finance Minister Mthuli Ncube said the government would also introduce 99-year leases for new farmers; set up an agriculture commodity exchange; implement a robust loan recovery system for defaulting farmers; observe the rule of law, property rights and bilateral agreements; promote out-grower schemes by the private sector; and take measures to “crowd in” financial institutions.

He also proposed that US$989,3 million (R13,8 billion) be allocated to the ministry of agriculture.

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To mitigate against a potential shortage of poultry products as a result of the continuing impact of last year’s avian influenza outbreak, the government would also remove import duties on fertilised egg imports with effect from 1 January 2019, while raw materials needed in the production of fertiliser would also be exempted from import duties, he said.