Finance, Economic Development and Investment Promotion Minister Mthuli Ncube

The government has allocated US$3.1 million for the initial batch of 378 farms approved for compensation to former farm owners (FFOs) who lost their land during the controversial 2001 fast-track land reform program.

During the reform, white farmers were forcibly displaced, often through violent means, following government directives. However, many of the black farmers who took over the properties have struggled to restore their economic productivity.

In a statement yesterday, the Ministry of Finance, Economic Development, and Investment Promotion confirmed that Zimbabwe is beginning to honor its pledge to compensate FFOs under the Global Compensation Deed (GCD) signed in 2020.

“To date, 740 farms have been approved for compensation by the Land Compensation Committee,” the ministry announced. “In this regard, the government disbursed US$3.1 million for the first batch of 378 processed farms. This represents 1 percent of the total compensation claim value of US$311 million. Additionally, Treasury bonds linked to the initial batch of farmers were issued last week to their custodian bank.”