Share

Zim to establish land compensation fund

Harare - Zimbabwe is set to establish a fund that will be used to compensate farmers whose land was taken under the land reform programme.

At the announcement of the 2015 National Budget Statement in parliament on Thursday, Finance Minister Patrick Chinamasa said government is establishing a land compensation fund to expedite the payment of compensation for farm improvements to previous commercial farmers.

Chinamasa said compensation to previous farmers under the land reform programme for improvements on farms has not progressed as planned owing to lack of resources.

He added that this has delayed closure to the various outstanding compensation cases.

“In order to expedite the payment of compensation for farm improvements to previous commercial farmers, government is establishing a land compensation fund,” said Chinamasa.

“The capitalisation of this fund will be on account of land tax proceeds from land beneficiary farmers,” he said, adding that government through the treasury will be approaching development partners to augment the fund's resources.

Chinamasa said Treasury is already consulting on the modalities of establishing and managing the land compensation fund.

This dovetails with his statement earlier this month that government is still seeking resources to implement the compensation of white commercial farmers, as prescribed by the constitution.

READ: Zim 'willing to compensate white farmers'

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.07
-0.9%
Rand - Pound
24.07
-0.7%
Rand - Euro
20.56
-0.5%
Rand - Aus dollar
12.37
-0.2%
Rand - Yen
0.13
-0.8%
Platinum
899.20
+0.3%
Palladium
999.25
-0.3%
Gold
2,210.66
+0.7%
Silver
24.56
-0.4%
Brent Crude
86.09
-0.2%
Top 40
68,080
+0.6%
All Share
74,278
+0.5%
Resource 10
56,967
+2.4%
Industrial 25
103,572
+0.3%
Financial 15
16,456
-0.4%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders