Government mobilises funds to compensate white former farm owners

By ZBC Reporter

GOVERNMENT has secured One Million United States dollars towards the compensation of white former farm owners in line with the Global Compensation Agreement signed in July last year.

In a statement released this Tuesday, Finance and Economic Development Minister Professor Mthuli Ncube says the funds were secured from a dividend paid on government’s stake in Kuvimba Mining House.

The initial dividend was declared by the mining firm to the state last month.

Professor Ncube said despite challenges being faced by the nation due to the Covid-19 pandemic, government is committed to fulfilling the agreement.

The Minister outlined the appointment of financial advisors as key in setting the tone towards the mobilisation of more funding.

The statement noted that several financial instruments are being finalised to raise funds from the local and external markets.

Professor Ncube outlined the extension for the first payment period to July next year from this month as agreed by the parties to the agreement.

The treasury chief praised global development partners for their technical support to the agreement.

The Finance Minister Ncube noted that the signing of the agreement has marked a turning point in restoring trust and cooperation between former farm owners and government.

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