Addis Abaaba has decided to withdraw from the regional governments the right of attributing leases of over 1,000 ha. However, the 2010 federal budget lists no income whatsoever, and no information on this subject appears in the quarterly reports of the National Bank of Ethiopia.
India's Karuturi plans to emerge as a leading player in agriculture in the African continent, with revenues from agriculture trumping revenues from floriculture in two years.
Tensions against Indian companies acquiring farmland in Ethiopia are mounting, according to Tehelka
Indian floriculture companies are moving into other agri-products in the world's second-largest continent.
La voix de l’Anywaa Survival Organisation s’est élevée contre la politique de cession des terres adoptée par le gouvernement éthiopien.
Anywaa Survival Organisation's critique of the Ethiopian government's video presentation of rice land grab in the Gambela region.
Private equity firms like Rabo Equity Advisors and IL&FS Investment Managers may be in talks with Karuturi.
The Addis government shows scant regard for the potential local impact of massive Indian investment in floriculture and biofuels.
Sai R Karuturi, founder and MD of Karuturi Global, says the company has acquired a very large piece of land in Ethiopia and has started agricultural production from it.
Indian tea companies, among others, are making a beeline to acquire estates in Africa. And the government is facilitating their hunt for good deals.
"Personally, I believe that in five years or in ten years time I would like to be seen and compared with peers such as Cargill or the Archer Daniels of the world or the Bunges of the world."
"What Karuturi is doing is what Africa needs, wants and deserves," says Ram Karuturi. Yet 400 Ethiopians have signed a petition saying they received no compensation after being evicted from land taken over by Karuturi.
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