Karuturi arm in PE deal talks to raise $100m
- VC Circle
- 09 February 2010
Standard Chartered Bank's Africa private equity arm and a unit of Reliance Capital are in talks to invest in Dubai-based Karuturi Overseas.
Standard Chartered Bank's Africa private equity arm and a unit of Reliance Capital are in talks to invest in Dubai-based Karuturi Overseas.
Karuturi believes the potential for large profits is so great that it plans to invest nearly $1bn in its Ethiopian agricultural operations
Documentary for Japan Broadcasting Corporation, focusing on Tanzania and Ethiopia
Programme aired on NHK World presenting a documentary by Kohei Tsuji filmed in Ethiopia and Tanzania - in Japanese only - 35 minutes
Until last year, people in the Ethiopian settlement of Elliah earned a living by farming their land and fishing. Now, they are employees.
"This apparent rush to lease so much farmland, much or all of it to foreign interests, during a time of worsening food insecurity should raise concern within the donor community about GoE motivations and negotiating capacity," writes the US embassy in Addis Ababa in December 2009
Al-Amoudi's recently established Saudi Star Agricultural Development Plc requested, two weeks ago, an additional 250,000 ha of land in Ethiopia for sugar beet production.
Sai Ramakrishna Karuturi, managing director of Karuturi Global Ltd was conferred with the award for business excellence in agribusiness in Africa by Corporate Council on Africa, for the year 2009.
Lured by a new business model, wealthy nations flock to farmland in Ethiopia, locking in food supplies grown half a world away
Many small Ethopian farmers do not share their leaders' enthusiasm for leasing off farmland to foreign investors
The Ethiopian government says concerns about foreign investors exporting food are outweighed by the plantations’ capacity to bring the country foreign exchange and technology, as well as creating employment.
The UPA Government has deprived job opportunities to millions of illiterate and semi-literate Indians by forcing Indian companies to invest abroad in overseas plantations and coal mining sectors.
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