A fierce debate is currently taking place concerning huge tracts of Tanzanian land which U.S. investors are seeking to develop. Tens of thousands of former refugees now farm the land. The investors say they want to help the east African country, but activists and Tanzania's opposition call it a land grab.
Wealthy U.S. and European investors are accumulating large swaths of African agricultural lands in deals that have little accountability and give them greater control over food supply for the world's poor, according to a report released Wednesday.
Institutions including Harvard and Vanderbilt reportedly use hedge funds to buy land in deals that may force farmers out.
Hedge funds are behind "land grabs" in Africa to boost their profits in the food and biofuel sectors, a US think-tank says.
The questionable, unchecked, speculative practices of large financial institutions that sent the world into a near-calamitous economic recession recently are being repeated in Africa through land-grabbing deals, The Oakland Institute, a California-based think tank, said in a recent report.
A recent report claims wealthy U.S. and European investors are buying up large amounts of territory in Africa, without proper contracts, and in ways that could actually force thousands of people off their land.
Harvard and other major American universities are working through British hedge funds and European financial speculators to buy or lease vast areas of African farmland in deals, some of which may force many thousands of people off their land, according to a new study.
In the past few years, massive amounts of land in Africa have been bought by foreign organisations. A new report from the US-based Oakland Institute says that in 2009 alone, foreign investors bought or leased nearly 60 million hectares of land in Africa - an area about the size of France.
Soaring food prices and the demand for biofuels have caused a new “land grab” in Africa – this time involving agribusiness corporations, hedge funds, investment banks, commodity traders and sovereign wealth funds from oil-rich states in the Middle East.
Land size of France bought by hedge funds in 2009, says chairman of the Alliance for a Green Revolution in Africa