Farming History Justice Peace Zimbabwe

Zimbabwe’s evicted white farmers offered US$3.5B payout

Zimbabwe’s white farmers, who were violently evicted from their land in a series of invasions that began two decades ago, said they have been offered US$3.5B to settle their dispute with the government.

The offer is for improvements and assets on the more than 4,000 farms that were seized and doesn’t pertain to the land itself, said Ben Gilpin, director of the Commercial Farmers Union. An agreement is yet to be reached. The CFU represented most large-scale farmers in the southern African nation.

Neither Zimbabwe’s agriculture minister nor officials in the finance ministry immediately answered questions sent to their phones Wednesday and it’s not clear where Zimbabwe would find US$3.5B. The country is battling inflation of almost 800% and dealing with shortages of currency, fuel and food with over 90% of the population out of formal employment.

Also read: Zimbabwe receives US$250M Credit Facility from Afreximbank

Dispossessed farmers had been seeking US$10B, but that was 15 to 20 years ago. Zimbabwe’s government maintains that the U.K., the former colonial power, should help pay the white farmers. That’s unlikely to happen because the U.K. and most western governments criticized the seizures and the allocation of the properties to senior members of the ruling Zimbabwe African National Union-Patriotic Front party — alongside allegations of human rights abuses.

The offer is an attempt to draw to a close a dispute that tipped Zimbabwe’s economy into freefall by slashing export income and incurring sanctions from the U.S. and European Union. Zimbabwe’s rulers maintain that the land was taken forcibly during colonial times and needed to be returned to Black Zimbabweans.

The Telegraph reported the potential deal earlier.

Source: Bloomberg

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