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?→
NESTLED in the turbulent Horn of Africa, Ethiopia is Africa’s oldest independent modern nation-state and second most populous. Discourse on Ethiopia has traditionally revolved around poverty, conflict, disease, and famine, yet in recent years it has experienced considerable economic growth, making it amongst “Africa’s top performing economies,” and the country has also made significant progress on several of the United Nations’ Millennium Development Goals.
The Deal of the Century: Supposing someone offered you the following land deal, would you take it or walk away believing it is too good to be true?
For £150 a week (USD$245), you can lease more than 2,500 sq km (1,000 sq miles) of virgin, fertile land – an area the size of Dorset, England – for 50 years, plus generous tax breaks. If you walked away from it, you would have lost out on “the deal of the century”, perhaps the millennium. If you think this is a joke or some sort of wild and crazy exaggeration, see this Guardian (U.K.) report and video on an incredible international land giveaway that is taking place in Gambella in Western Ethiopia and judge for yourself. Continue reading Ethiopia: A Country for Sale→