Zim pays millions to compensate white farmers

Zimbabwe has so far paid RTGS $53m to 737 white
former farmers, mostly elderly and vulnerable, finance minister Mthuli Ncube
said on Sunday.

Minister Ncube added government is now working on a grand
agreement that will culminate in an MOU and a structure to pay the compensation
over 20/30 yrs.

It is estimated the compensation bill could run into
US$10bn.

In year 2000, without compensation, Zimbabwe took over
land from white commercial farmers and distributed it to landless blacks and
also to the connected elite who now own multiple farms.

The total bill could run into billions and the
Zimbabwean government is working with international financial institutions on
how best to fund the compensation.