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According to the Global Compensation Deed(GCD) signed last year, the Zimbabwean government has acquired US$1 million to provide compensation to former white farm owners.

Former farmers whose land was gazetted for the resettlement of landless indigenous Zimbabweans signed the GCD with the government.

Professor Mthuli Ncube, Minister of Finance and Economic Development confirmed the development in a statement this morning, saying the funds came from a dividend paid on the government’s investment in Kuvimba Mining House.

On June 23, the first payout from this long-term investment was paid.

“An amount of $1 million was declared in favor of the fund for compensating former farm owners and this amount will be applied towards the partial settlement of the agreed global compensation figure. Subsequently dividends will be paid quarterly and applied in the same manner,” Minister Ncube said in the statement.