Saturday, June 01, 2013

Karuturi debacle prompts Ethiopia to review land policy

(June 01, 2013, (The Hindu))--The slow progress of Karuturi Global and similar projects has prompted the Ethiopian government to reassess its policy of leasing vast tracts of land to single investors.

In 2008, Karuturi Global made international headlines when it leased 300,000 hectares (ha) of land in southern Ethiopia with the stated aim of becoming the world’s largest food producer. Five years on, the slow progress of Karuturi and similar projects has prompted the Ethiopian government to reassess its policy of leasing vast tracts of land to single investors.

“I have to be frank, they didn’t meet our expectations,” said Minister of Agriculture, Tefera Derbew in an interview, “We would like to get the land developed in a short period of time… [but] Karuturi, Saudi Star and the like, their implementation is not to our satisfaction.” Read more from The Hindu » 

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