Zim pays farmers fractional compensation, but it ‘signals commitment’
The government, which was due to pay half of the money by next month, has asked for a year-long delay
Zimbabwe has made its first compensation payment as part of an agreement to settle a dispute with white commercial farmers who had their land seized violently two decades ago.
State-linked Kuvimba Mining House transferred $1m (about R14,2m) to the farmers as the government asked for a delay in paying the full $3.5bn (about R50bn) compensation it agreed to a year ago.
While the payment is a fraction of that agreed to, resolving the dispute is key to the country pulling out of the economic stagnation that the seizures, ordered by then president Robert Mugabe, triggered. Exports plunged, relations with multilateral lenders were severed, the US and the EU imposed sanctions and Zimbabwe experienced a bout of hyperinflation...