foreign large scale land acquisitions for investment in ...

LAW POLICY AND ENVIRONMENT

FOREIGN LARGE SCALE LAND ACQUISITIONS FOR INVESTMENT IN AFRICA: DRIVERS AND IMPLICATIONS Practicing Physical Planner and Postgraduate Student, Master of Arts in Environmental Policy The University of Nairobi Centre for Advanced Studies in Environmental Law and Policy EMAIL: [email protected]

PAPER MAIN HIGHLIGHTS 1.0 INTRODUCTION ............................................................................................................... 1 2.0 DRIVERS FOR FOREIGN LARGE-SCALE LAND ACQUISITION............................... 2 2.1 Agriculture and Energy ...................................................................................................... 2 2.2 Population Increase ........................................................................................................... 3 2.3 Raw Materials and Economic Liberalization ...................................................................... 4 2.4 Government Policies ......................................................................................................... 4 3.0 IMPLICATIONS OF LARGE-SCALE LAND ACQUISITION ......................................... 5 3.1 Impacts on agricultural productivity .................................................................................. 5 3.2 Impacts on the economy ................................................................................................... 6 3.3 Impacts on politics ............................................................................................................ 8 3.4 Impacts on the environment.............................................................................................. 8 4.0 BENEFITS TO AFRICAN COUNTRIES ........................................................................... 9 REFERENCES ........................................................................................................................ 10

1.0 INTRODUCTION Large scale land acquisitions is not a new notion having been seen in the colonial times which was characterized by what is termed as ‘land rush’ where large pieces of land were acquired by colonial governments as well as foreign and domestic corporations 1. Currently land acquisition mostly refers to private entities be they foreign or domestic taking control over pieces of land where land rights have yet to be formalised2. These are usually in the forms of land-leasing agreements that may range within a timeline of 25 to 99 years depending on the arrangements between the two parties. It has also been defined as land grabbing in some cases where the scale, rate, negative impacts and extreme lack of transparency surrounding these large-scale land acquisitions that have been criticized by various organizations that advocate for the rights of developing countries or the poor 3. It is also seen as the rush for commercial land in the global South by foreign governments, private companies and investment funds. Those land investments are mainly aiming to secure one's own access to food and fuel and therefore are often described as a form of “neo-colonialism”4. This was supported by Jacques Diouf, the former head of the FAO, claimed that such land deals are a form of neo-colonialism, with poor states producing food for the rich at the expense of their own hungry people 5. Most of these foreign investment deal occur in Africa and parts of Asia where it is seen that land is abundant and cheap to acquire due to the present governments. An example being The Democratic Republic of Congo, arguably one of the richest African countries in natural resources, is claimed to have sold or leased approximately 3 million hectares of land in major land deals signed with China and South Africa 6. When it comes to foreign investment particularly on large scale land acquisition the foreign investors are divided into the governments and the private sector where we see the governments as all the institutions that represent a sovereign government. The private sector describes private corporations which are most of the times private financial institutions.

Hunt, S. (2015). Large-Scale Land Acquisitions. Larsen, S. (2012). Foreign land acquisitions in Tanzania: global ideology, local perspectives (Master's thesis). 3 Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 4 Burley, H., & Bebb, A. (2010). Africa: up for grabs–the scale and impact of land grabbing for agrofuels. Friends of the Earth Europe, Brussels, Belgium. 5 Borger J., (2008) Rich Countries Launch Great Land Grab to Safeguard Food Supply. Guardian www.guardian.co.uk/ environment/2008/nov/22/food-biofuelsland-grab 6 Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 1 2

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Some of the sovereign governments which are particular in large scale land acquisitions include Gulf States such as Bahrain, Qatar, Kuwait, Saudi Arabia, and some North African countries such as Egypt and Libya that rely heavily on food imports to feed their population due to their location in arid regions that have limited water resources to produce enough food. It also includes Asian countries such as China, India, South Korea and Japan where both the population and economic growth are reducing the available land for agriculture. The private sector mainly consists of individual investors or corporations from European Union countries and/or the USA which outsource the farming of plants to produce bio-fuel and invest in the agriculture sector in pursuit of financial returns. Examples of these institutions are Emergent Asset Management Ltd, a UK based Investment Company; Blackrock, a US based asset management company; New Zealand Superannuation, a pension funds from New Zealand; Fund Flora Eco Power Holding AG from Germany; Karuturi Global Ltd., agribusiness firm from India; China State Farms Agribusiness Corporation, State owned Chinese company ; Morgnan Stanley; Rabobank Group, a bank from the Nederland that focuses on food and agribusiness internationally; Allianz and Deutsche Bank to name a few 7. The large-scale acquisition of land by these investors is noted to be particularly for interest in various economic sectors such as agriculture, mining and infrastructure and infrastructure which are usually the ones to receive the biggest impact when the investors acquire the land.

2.0 DRIVERS FOR FOREIGN LARGE-SCALE LAND ACQUISITION The continued large-scale acquisition of land particularly in Africa is fuelled by various factors that have made African countries, which are categorized to be developing as opposed to the western countries that are viewed to be developed, to be enticing for foreign investors to continually buy or lease large tracts of land for their own purposes. Some of these key factors that drive increased investment in the African continent include: 2.1 Agriculture and Energy Global trends such as rising food prices and policy commitments to alternative energy, have over the preceding decade led to a rapid expansion in the scope and scale of transboundary inv estments in land for the cultivation of food and biofuel crops 8. While Africa has historically been largely side-lined by foreign investors, it is becoming an increasingly attractive destination for farmland Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 8 Cotula, L., Vermeulen, S., Leonard, R. and Keeley, J. 2009 Land grab or development opportunity? Agricultural investment and international land deals in Africa. International Institute for Environment and Development, London, Food and Agriculture Organisation (FAO), International Fund for Agricultural Development (IFAD), Rome. 7

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investments due to its relative abundance of cheap and agro ecologically suitable9 and its increasingly liberalised trade and investment regime 10. The issue of food security in the foreign developed countries has also contributed to the increased largescale land acquisition in order to cater to their increased demand for food especially for the Gulf States which are mostly arid and semi-arid hence not particularly suited for agricultural purposes. This is noted to be a contributing factor for the food price crisis where prices increases for food and food products coming about from food shortages with Christian Aid’s 2008 Report on Fighting Food Shortages highlighted the role of heightened demand for cash crops and biofuels amongst some of the factors in the food price crisis 11. The presence of EU and US policies promoted the development of large-scale corn production to make ethanol and of soybeans and palm oil industrial plantations to make biodiesel, primarily in developing countries. The 2008 global financial crisis and ensuing recession, which primarily affected developed countries, drove investors to look for alternative sources in the form of commodity bundles of food and fuel for their profit12. International initiatives to address climate change, which attempt to place a value on natural resources, including the Reducing Emissions from Deforestation and Forest Degradation (REDD+) scheme have also driven government and commercial interests in land 13. These initiatives are attempts to cap on greenhouse emissions with the foreign countries having set targets in their energy policies. Other initiatives are also on carbon trading by the foreign investors when it comes to the African continent. 2.2 Population Increase Due to the world's population growth, which is expected to reach about nine billion people by 2050 14 food demand will rise in general. In addition, the global trend towards increasing urbanization, which expands the share of the world’s population that depends on food purchases, and changing diets, particularly growth in meat consumption, appear among the factors pushing up global food demand15. For the African developing countries, food insecurity is particularly a FAO 2008 The state of food and agriculture biofuels: prospects, risks and opportunities. Food and Agriculture Organisation (FAO), Rome. 10 UNCTAD 2009. World Investment Report 2009. United Nations Conference on Trade and Development (UNCTAD), New York. 11 Christian Aid (2008) Fighting food shortages: hungry for change 12 Holden and Pagel (2013) “Transnational land acquisitions. What are the drivers, levels, and destinations of recen t transnational land acquisitions?” Nathan Associates Ltd / EPS PEAKS 13 ActionAid (2014) page 12; Christian Aid (2012) REDD+ in Latin America and the Caribbean: Does it work for Local Communities? Available at www.christianaid.org.uk/images/Time-for-climatejustice-8.pdf 14 FAO/OECD. (2011). Price Volatility in Food and Agricultural Markets: Policy Responses. Policy Report including contributions by FAO, IFAD, IMF, OECD, UNCTAD, WFP, the World Bank, the WTO, IFPRI and the UN HLTF. 15 Cotula, L., Vermeulen, S., Leonard, R., & Keeley, J. (2009). Land grab or development opportunity? Agricu ltural investment and international land deals in Africa. London/Rome: FAO, IIED and IFAD. 9

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vulnerability to them due to their high population densities and this was noted in the course of the global food crisis of 2007/2008 where prices increased by 30-50 percent compared with their past ten-year average and this was particularly severe for the many food-import dependent countries 16 2.3 Raw Materials and Economic Liberalization The African continent is rich in natural resources which can be found in abundance such as minerals (gold, diamonds, cash crops, titanium, oil etc.), biological resources within the various ecosystems among others which are yet to be tapped by the various African governments. Such resources are what attract large-scale land acquisition in areas that particularly contain such resources in order to carry out mining or agricultural activities with the aim of economic gain for the foreign investors. An example of note is the foreign investors’ need for flowing agricultural raw materials for processing which has created profitable opportunities for portfolio diversification into food production investments, especially as returns on other investments became less attractive 17. The developed countries having used up most of their natural resources as well as there being no unused arable land available in such countries has created the view that the African continent is a major source as well as the notion that land is abundant in Africa, an assumption that is generally promoted by the African governments in order to attract the foreign investment 18. It is also made easily affordable and accessible to such foreign investors by said governments. 2.4 Government Policies A World Bank report on the issue states that the countries attracting foreign investment are those with an abundance of land as well as a weak land governance system and policies 19. The underfunding of the agriculture sector in developing countries has weakened its development. Thus, many developing countries welcome the new interest of foreign investors in agriculture and see it as an opportunity to access fresh capital and new technologies; two essential elements that have been missing in order to develop and improve their agriculture sector 20. The issue of a weak governance system comes in where the contracts are being signed by governments which are Deininger, K., & Byerlee, D. (2011). Rising global interest in farmland: Washington, DC: The World Bank Hallam, D. (2009, December). Foreign investment in developing country agriculture: issues, policy implications and international response. In organisation for economic development and cooperation. 8th Global Forum on International Investment (pp. 7-8). 18 Posluschny-Treuner, M. (2012, July). International Large-Scale Land Acquisitions in Ethiopia: The Key to Trigger Agricultural Modernization, Development and Poverty Reduction?. In 4th ECPR Graduate Conference, Jacobs University, Bremen (Vol. 4). 19 Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 20 Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 16 17

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generally corrupted, with key officials in such contracts do so with self-interest and not that of the population. They take advantage of the weak land legal rights in the African countries where land tenure systems are yet to be properly established with land in areas that suffer from the land grabbing scenario being viewed as communal land. This in turn raises concerns when it comes to large-scale land acquisition thus identifying it as land grabbing21.

3.0 IMPLICATIONS OF LARGE-SCALE LAND ACQUISITION Large scale land acquisition by foreign investors in the African continent has had various impacts particularly in the developing countries that have opened up their borders to such foreign investors. Such impacts include: 3.1 Impacts on agricultural productivity Here we have cases such as issues on food insecurity, the displacement of farmers, issues on water scarcity, impacts on future land use plans from the acquisition of the land for long periods of time. When it comes to issues on food security, we have foreign investors taking up huge tracts of land to carry out farming activities and the products are usually exported to their own countries. This reduces the capacity for the host country to carry out its own farming activities thus reducing the amount required to cater to its population. This therefore impacts on the food security of the host country. A key example is on Ethiopia which receives foreign food, however, it has huge tracts of farmland sold or leased to foreign investors used to produce food for export rather than feeding the local population22. The situation leaves the local population in even greater food insecurity since they do not have access to land and its resources anymore. In such cases you find the beneficiaries end up being the foreign investors and their home countries that benefit at the expense of the host country. On issues of water scarcity Kenya can be a key example where we see despite being plagued by droughts in recent years with devastating effects on its agriculture sector. Sadly instead of addressing this issue, Kenya has opted to give up its farmland to foreign investors planning to grow plants (for export) that are used to produce bio-fuel; plants such as sugar cane and jatropha, which require a lot of water to grow. In order to satisfy the watering needs of these plants, Kenya allegedly made available 10,000 hectares to the Canadian company Bedford Bio-fuels, for a pilot project to grow Jatropha and 28,000 hectares to G4 Industries Ltd. from the UK. The land Sindayigaya, W. (2011). Entwicklungshilfe. http://www. 2013]. 22 Sindayigaya, W. (2011). Entwicklungshilfe. http://www. 2013]. 21

Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25,

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provided to both companies is adjacent to the Tana River and situated in the Tana Delta which is considered as an important habitat for birds in Africa. As a Consequence of these land concessions the environment of the delta has been damaged. Less and less animals are being seen, which once densely populated that habitat. Furthermore, the local population has been displaced and entire communities have been dismantled. It has also been reported that Kenya concluded an agreement with Qatar to exploit 40,000 hectares23. A big example for the displacement of farmers is Uganda which from the release of a report called the Oxfam report, is stated to have had more than 22,500 people evicted from their land to make way to New Forest Company. This UK based company obtained a license to plant trees. Another case being in 2001 which was less publicized, approximately 2041 individuals were evicted from their land following a land lease agreement between the Ugandan government and a German coffee trader (Neumann Kaffee Gruppe) to establish a coffee plantation. It is also important to mention that in Uganda land deals represent more than 14 % of the current agriculture area 24. Such cases also have an impact on any future land use plans that could be implemented by the host governments such as irrigation schemes that could end up benefiting the country. It is also important to note that there are some benefits that come in play from such large foreign investments particularly to the agricultural sector. This includes: i.

The introduction of modernized farming practices which goes hand in hand with the introduction of clean farming technology that reduces on costs of farming while at the same time increasing the yield from farms.

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Increased yields impact on the food security of the country

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Introduction new crops for cultivating that are capable of surviving in harsh environments.

3.2 Impacts on the economy Economically, foreign largescale land investments has several impacts which have trade and policy implications. A key example is the EPZs where we have foreign investors doing intensive farming in such areas only for the agricultural products to be exported duty free which makes the host country lose revenue in terms of foreign currency. It has been noted that in such areas the products exported amount to about 80% of the products with only 20% being distributed locally for local consumptions. In the case for food products the host country loses out on food sovereignty.

Sindayigaya, W. (2011). Entwicklungshilfe. http://www. 2013]. 24 Sindayigaya, W. (2011). Entwicklungshilfe. http://www. 2013]. 23

Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25,

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Such cases has brought out a dependence of the African countries on foreign investors which again limits the development of the African countries. A Kenyan example would be the mining of titanium taking place in Kwale County where the raw titanium is shipped to the United Kingdome only for it to be processed and later imported into the country as a finished product which bec omes more expensive having undergone value addition. The same scenario can be applied for our cash crops such as tea and coffee or in the case of Ghana in the exportation of the cocoa in its raw form only to be imported after value addition has taken place during its processing. This applies to other minerals as well where we have foreign investors purchasing land in host countries rich in minerals such as oil, gold and diamonds which are then sold in foreign currencies particularly the dollar and not the local currencies which benefits such currencies as they are strengthened in the global markets leaving the local currencies to suffer in the long run. A key example would be Zimbambwe which received numerous trade sanctions when the president ensured al the foreigners were ejected from the country after it was noted that they had acquired too much land as a result of colonization. It was also noted that international firms had been loaning the farmers in Zimbambwe funds in order to buy back their land from the same colonialists who had grabbed said land. The currents state of the economy in Zimbambwe is an example of what can happen as a result of foreign investement being in conflict with the political situation of a host African country. We also have investors buying or leasing large tracts of land for biofuel purposes such as in Tanzania which is among the countries which seem to attract investors for bio-fuel production where the foreign investors present mostly Europe based companies from the UK, Germany and Sweden and that only 650,000 hectares of land were allocated for bio-fuel production out of 4 million hectares requested. In such scenarios we see economic development as energy security is increased in the country particularly with the use of renewable energy sources such as biofuels. Increased energy security thereby increases the economic potential of the host country which makes it a beneficiary from such actions. What should also be noted is the fact that most African countries may lack the capac ities to undertake such large projects which are usually capital intensive hence actively promote and invite foreign investors to carry certain economic activities such as mining. This is done generally for short term benefits to the country which generally improve the economic situation of the host country where such mining activities are successful. They also tend to improve the livelihoods of the community surrounding such areas as they draw out the natives into job opportunities which goes to reduce the levels of unemployment in the country.

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3.3 Impacts on politics On the political scene, largescale land acquisition by foreign investors has had a prolific impact. It has been noted that various levels of conflict has occurred as a result of foreign largescale land acquisitions to the level that some African countries become politically unstable as a result. This has occurred as a result of the foreign investors owning too much land, more than the natives which has been taken as a reason to instigate conflicts particularly by the political class who usually have their own agendas. Most Africans view this as indirect colonization otherwise known as neocolonialism. We have seen wars being instigated in countries such as Libya and Algeria all for the acquisition of lands that have large oil deposits that are again being mined by the foreign investors. Madagascar is a key example having made rounds in media reports a while back following the failed land deal which was to lease 1.3 million hectares for 99 years to the South-Korean multinational Daewoo, to grow maize and palm oil for export. The people of Madagascar protested against the deal and the ruling president was toppled as a consequence of the protest. However, this failed deal did not dispel interest of foreign investors to pursue opportunities to buy or lease land in Madagascar25. We usually note there are high cases of human right violations in such cases as well as high cases of corruption in such countries in that most land deals are usually orchestra ted by the people in power who usually don’t have the country’s best interest at heart. In such scenarios we see the foreign investors benefiting more as they still acquire their natural resources while leaving the host country in turmoil following political upheavals and civil wars that may take place from their bid to acquire said natural resources. 3.4 Impacts on the environment Environmental implications come about from the continuous use of monoculture in large tracts of land which may affect the fertility of said land. We also have the continuous use of fertilizers and pesticides which may contaminate the soil as well as underground water sources as well as the introduction of new exotic and alien species that may kill the indigenous plant species already present in the area. Foreign investment that buys up large tracts of land for mining activities may also contribute to high levels of pollution in the area be it land, water or air while at the same time contributing to the degradation of the land from the digging of large trenches that will be left open making it a danger to the surrounding community. We may have large loss of biological diversity in such scenarios.

Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 25

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We have seen cases such as oil companies buying up land in the pretence of prospecting only for the burial of hazardous waste that contaminates the environmental water sources contributing to cancer cases a scenario that is in the Kenyan courts. We have the growing of alien species particularly the blue gam tree and the eucalyptus which have been proven to be contributing factors to water scarcity. An example being in Kenya where land was provided to foreign investor companies adjacent to the Tana River and situated in the Tana Delta which is considered as an important habitat for birds in Africa. As a consequence of this, these land concessions the environment of the delta has been damaged 26.

4.0 BENEFITS TO AFRICAN COUNTRIES Foreign investment in largescale land acquisition should have benefits arising from capital inflows, technology transfer that will lead to innovation and productivity increase, an upgrade to domestic production, quality improvement, employment creation, backward and forward linkages and multiplier effects through local sourcing of labour and other inputs and processing of outputs and possibly an increase in food supplies for the domestic market and for export. We can also have Investments that include infrastructural developments such as construction of road or rail links or port facilities such as to cater to the increased productivity that comes in play as a product of such large-scale land acquisitions. Also of note would be social cohesion that could arise as a result of intermarriages taking place with the foreign investors who come into the country as well as cultural exchange that will come about as a result of such linkages. However, it should be noted that these benefits will not flow if investment results in the creation of an enclave of advanced agriculture in a dualistic system with traditional smallholder agri culture and which smallholders cannot emulate. The necessary conditions for positive spill over benefits may often not be present in which case policy interventions are needed to create them 27. Due to this we find that in most cases where large-scale land acquisition by foreign investors has taken place the biggest beneficiary is always the foreign investors who benefit both agriculturally and economically in the long run though we cannot deny that African countries also benefit in some forms particularly when it comes to agricultural development for the small scale farmers though this can be considered short term benefits as the land deals are usually for long time periods. Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2013]. 27 Hallam, D. (2009, December). Foreign investment in developing country agriculture: issues, policy implications and international response. In organisation for economic development and cooperation. 8th Global Forum on International Investment (pp. 7-8). 26

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REFERENCES 1. ActionAid (2014) page 12; Christian Aid (2012) REDD+ in Latin America and the Caribbean: Does it work for 2. Borger J., (2008) Rich Countries Launch Great Land Grab to Safeguard Food Supply. Guardian www.guardian.co.uk/ environment/2008/nov/22/food-biofuelsland-grab 3. Burley, H., & Bebb, A. (2010). Africa: up for grabs–the scale and impact of land grabbing for agrofuels. Friends of the Earth Europe, Brussels, Belgium. 4. Christian Aid (2008) Fighting food shortages: hungry for change 5. Cotula, L., Vermeulen, S., Leonard, R. and Keeley, J. 2009 Land grab or development opportunity? Agricultural investment and international land deals in Africa. International Institute for Environment and Development, London, Food and Agriculture Organisation (FAO), International Fund for Agricultural Development (IFAD), Rome. 6. Deininger, K., & Byerlee, D. (2011). Rising global interest in farmland: Washington, DC: The World Bank 7. FAO 2008 The state of food and agriculture biofuels: prospects, risks and opportunities. Food and Agriculture Organisation (FAO), Rome. 8. FAO/OECD. (2011). Price Volatility in Food and Agricultural Markets: Policy Responses. Policy Report including contributions by FAO, IFAD, IMF, OECD, UNCTAD, WFP, the World Bank, the WTO, IFPRI and the UN HLTF. 9. Hallam, D. (2009, December). Foreign investment in developing country agriculture: issues, policy implications and international response. In organisation for economic development and cooperation. 8th Global Forum on International Investment (pp. 7-8). 10. Holden and Pagel (2013) “Transnational land acquisitions. What are the drivers, levels, and destinations of recent transnational land acquisitions?” Nathan Associates Ltd / EPS PEAKS 11. Hunt, S. (2015). Large-Scale Land Acquisitions. 12. Larsen, S. (2012). Foreign land acquisitions in Tanzania: global ideology, local perspectives (Master's thesis). 13. Local Communities? Available at www.christianaid.org.uk/images/Time-for-climatejustice-8.pdf 14. Posluschny-Treuner, M. (2012, July). International Large-Scale Land Acquisitions in Ethiopia: The Key to Trigger Agricultural Modernization, Development and Poverty Reduction?. In 4th ECPR Graduate Conference, Jacobs University, Bremen (Vol. 4). 15. Sindayigaya, W. (2011). Foreign investments in agriculture–Land Grabbing. GLS Treuhand, Zukunftsstiftung Entwicklungshilfe. http://www. entwicklungshilfe3. de/filead min/entwicklungshilfe/img/Land_grab_ article. pdf [Accessed July 25, 2017]. 16. UNCTAD 2009. World Investment Report 2009. United Nations Conference on Trade and Development (UNCTAD), New York.

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