Government has set aside US$53 million towards compensation of former white farmers affected during the Land Reform Programme, Finance Minister Professor Mthuli Ncube has said.
Presenting his 2019 Budget statement yesterday, Ncube said the compensation plan is in line with the country's laws and various bilateral agreements entered between government and former colonial masters, Britain.
"In the interim, the 2019 Budget proposes to avail US$53 million towards payment of compensation to former white farm owners, whose disbursement will be targeted.
"Government has put in place structures to determine the extent of Government's obligations. This work is on-going and will be finalized in the next few months," he said.
Prof Ncube added that they are exploring various mobilization strategies and finance mechanisms with all stakeholders.
"Cognizance is being given to the fact that the resources required to compensate and put closure to this important issue, are obviously beyond the capacity of the fiscus.
"In this regard, various mobilization strategies and finance mechanisms are being explored in consultation with all stakeholders," he added.