South Africa

Cross River State Governor says his administration intends to establish a yellow maize farm which will be the biggest in Africa, in partnership with South African agribusiness.

The employees accuse CFC Stanbic of demanding more money than it lent to Karuturi, saying the South African lender is responsible for the poverty that struck their families since Karuturi was placed under receivership, 3 years ago.

The African Development Bank is nevertheless accelerating a push for projects such as the failed 80,000 hectare Bukanga Lonzo project in the DRC, for which it provided about $1 million to finance a feasibility study.

The Nigeria Sovereign Investment Authority buys a 3,500 ha farm in Nasarawa State through a joint venture with UFF Agri Investment, a South African company owned by Old Mutual Property

Bukanga Lonzo, c'est un des projets phares de la présidence. Un gigantesque parc agro-industriel, le premier d'une série de fermes géantes, censées mener le pays vers l'auto-suffisance alimentaire.

Los elevados precios de los alimentos y la necesidad de energías renovables alternativas como los agrocombustibles han desencadenado la nueva ola de expropiaciones de tierras en África del Sur.

Indian company Estina was given a free 99-year lease to a 4,400 ha farm, as well as a guaranteed R114-million per year for the construction and running of the farm, but cash was siphoned out of the country as quickly as the South African public paid it over.

Le gouvernement sud-africain a publié vendredi dans le Government Gazette un projet de loi visant à interdire aux étrangers l’accès à la propriété foncière agricole.

«Ce nouveau véhicule d’investissement devrait acquérir des petites fermes», a déclaré le directeur de Polar Star, indiquant que le fonds vise un taux de rendement interne situé entre 8 et 12%.

Cape Town-based Polar Star Management Ltd plans to use its own money to buy small farms and processing companies in South Africa this year.

Last year, the Erati district government granted Jacaranda a further 100 hectares, on which it intends to produce not only lemons, but also maize and soya for animal feed.

The stage for an acquisition of Crookes could already be set thanks to the involvement of African agriculture-focused UK private equity firm SilverStreet Capital as the key shareholder through its Silverlands (SA) Plantations investment vehicle.