Tag Archives: Karuturi Global

Karuturi Demands Compensation From Ethiopia

Karuturi is demanding millions in compensation from Ethiopia
An Indian flower grower is demanding millions in compensation from Ethiopia for loses incurred due to the government’s ‘unilateral and illegal’ cancellation of its investment and trade license in the country.

BY NIZAR MANEK | BLOOMBERG

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

Why Do Ethiopians Want to See Karuturi Fail?

“I have invented and discovered commercial farming in Ethiopia…. [but] Why does everybody here wants me to fail? …. Touch me, then you will see the power of India… The irony is, if the project succeeds it benefits Ethiopia but if it fails it harms nobody but Karuturi.” – Sai Ramakrishna Karuturi, founder and managing director of Karuturi Global Ltd.
By Birhanu Fikade | for The Reporter,

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?