Zimbabwe: Government Secures U.S.$1m for Former Farmers

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Government has secured US$1 million that will go towards the payment of compensation to white former farm owners as agreed in the Global Compensation Deed signed last year.

Government signed the GCD with the former farmers whose land was gazetted for resettlement of landless indigenous Zimbabwean.

In a statement this morning, Finance and Economic Development Minister, Professor Mthuli Ncube confirmed the development saying the money was secured from a dividend paid on Government's shareholding in Kuvimba Mining House.

The first dividend from this long term shareholding was paid on June 23.

"An amount of USD1 million was declared in favour of the fund for compensating former farm owners and this amount will be applied towards partial settlement of the agreed global compensation figure.

"Subsequently dividends will be paid quarterly and applied in the same manner," Minister Ncube said in the statement.

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