Karuturi Global Ltd., an Indian flower grower, demanded compensation from the Ethiopian government for a series of failed land deals as it prepares to exit the Horn of Africa nation.
The company wrote a letter to Prime Minister Hailemariam Desalegn accusing the state of nationalizing its farming investments and said it should be given “adequate and appropriate” redress. The Sept. 20 letter was emailed to Bloomberg by Karuturi Managing Director Sai Ramakrishna Karuturi. Continue reading Karuturi Demands Compensation From Ethiopia→
A Dutch-run flower farm in northern Ethiopia was among a series of foreign-owned plantations attacked by anti-government protesters as unrest in the country spreads.
A “large group” of people invaded Esmeralda Farms Inc.’s farm 13 kilometers (8 miles) south of Bahir Dar city in the Amhara region on Aug. 29, causing about 7 million euros ($7.8 million) of damage, country manager Haile Seifu said by phone Thursday. Flower farms in the area owned by Israeli, Italian, Indian and Belgian companies were among nine commercial properties damaged in the protests, which continued on Aug. 30, he said. Continue reading Dutch, Israeli Farms in Ethiopia Attacked by Protesters→
Last week, Sudan Tribune reported that the “technical committee tasked with redrawing the border between Sudan and Ethiopia said it would complete its work on the ground during this year.” According to the report, work on the “border demarcation stopped following the death of Ethiopia’s former Prime Minister, Meles Zenawi.” Continue reading Do all Ethiopians Live on Borrowed Land?→
Sai Ramakrishna Karuturi, founder and managing director of Karuturi Global Ltd, claims that he is the person who introduced commercial farming in Ethiopia. However, his performance has been disappointing, he admits. He is having a troubled time in relation to settling bank loans.
The following is an exclusive interview The Reporter has conducted with Karuturi where he candidly and boldly argues on the insurmountable challenges he has been forced to face in his operations here in Ethiopia starting from land acquisition procedures to financing mechanisms: Excerpts: Continue reading Why Do Ethiopians Want to See Karuturi Fail?→