Tag Archives: Black Zimbabwean

Zimbabwe News | Black & White

As the Zimbabwean government struggles to keep its economy afloat, it has toyed with shifting the burden of reparation to black farmers, who lease land from the government, through a compensation fund created through their rent payments.
White farmers were displaced as a part of a contentious indigenization program that saw massive land redistribution beginning in 2000, promoted as a corrective to the expropriation of land from black families under colonialism.
More than 6,000 farms remain for reparation assessment, with only 240 white farmers having begun to receive payment.

(Image Credit: via AfricaNews)

President Robert Mugabe has pushed a contentious plan to have all companies operating in Zimbabwe—including major multinational corporations—comply with a 2008 law to transfer majority shares to black Zimbabweans to “indigenize” their local firms.
The plan was conceived as a corrective to colonial-era economic exclusion and is a follow-up to the ongoing land reform program that has transferred farm ownership from white to black Zimbabweans.
It is unclear how many companies, faced with the revocation of their operating licenses, have complied to date, and many concerned that the program discourages foreign direct investment.