Indian firms look to Africa for business opportunities
- BBC
- 11 December 2011
Karuturi Global is now one of the biggest private land owners in the world. They have invested over a quarter of a billion dollars in Ethiopia and Kenya alone. BBC reports.
Karuturi Global is now one of the biggest private land owners in the world. They have invested over a quarter of a billion dollars in Ethiopia and Kenya alone. BBC reports.
Right now, on the desks of Swedish International Development Agency (Sida) there is the background material for an application of credit guarantee for an 8000 ha sugar plantation and a refinery in Bagamoyo, Tanzania.
The US-based AgriSol Company has landed another lucrative land deal involving 10,000 hectres amid growing public outcry about the recent land deals sealed by the company in Rukwa region.
"We are using knowledge and resources from Latin America and North America, capital from this part of the world (India) and land from Africa to make hopefully a heady cocktail,"says Sai Ramakrishna Karuturi
Interest by both local and international companies to lease land has been met with criticism by some outside the region, yet locals are unperturbed.
“Zuia uporaji wa ardhi,” reads the Swahili headline of a poster on the wall of the community building in Mhaga, a densely populated village in Kisarawe, a district 100km southwest of Dar es Salaam. It means “prevent land grabbing”
Oakland Institute speaks about the findings of their latest round of in-depth research into land grabs in Africa.
Neil Crowder - CEO Chayton Africa presenting on Investing in Zambia's agriculture - Zambia Investment Forum London 2011
FAO director general-elect José Graziano da Silva discusses land grabbing in interview with IPS.
Global agricultural company Olam says the cultivation and processing of rice in Nigeria has the potential to be a lucrative industry.
Ukraine may retain a ban on the sale of farmland until 2013, says Hryhoriy Kaletnyk, head of the parliamentary committee for agriculture and land.
Foreign countries which buy African farmland in order to gain food security are guilty of a "new form of colonisation," says South Africa's Minister of Agriculture Tina Joemat-Pettersson.