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Article

28 Jan 2010

Author:
Nico Colombant, Voice Of America (VOA)

Activists, Researchers Raise Alarm on Africa's 'Land Grab'

Activists and researchers in the United States are raising the alarm on what they call the "land grab" in Africa. Outside governments and foreign corporations have been turning increasingly to African countries to purchase large areas of land, to the dismay of activists, who say economic mistakes of the past should not be repeated...On the other side of the debate, investors, foreign buyers and local leaders say such long-term land leases will create thousands of jobs and bring in much needed revenue...Activists and investors do agree that after the world housing market collapsed, African land became a widely-sought cheap commodity. What they clearly disagree on is whether this trend is good or bad for local populations. [full report refers to Morgan Stanley, Goldman Sachs, Sinopec, China National Overseas Oil Corporation (CNOOC), PT Daewoo Logistics Indonesia (part of Daewoo Logistics], Cheil Jedang Samsung (CJ Corp.), Black Earth Farming, Alpcot-Agro, BlackRock, Al Kudra, Jarch Capital]