Oxfam report raises red flag on land grabs in Africa
Saturday October 13 2012
Oxfam says the land grab is accelerating and that ‘foreign investors have been buying an area of land the size of London every six days.’ TEA Graphic Nation Media Group
A huge amount of land has been sold off or leased out globally in the past decade.
According to the Oxfam report, Our Land, Our Lives, an area equivalent to the size of Kenya has been sold off in Africa to international investors over the past decade in order to facilitate the growing of bio fuel and other commercial crops.
The report also says the land already sold “could feed a billion people, equivalent to the number of people who go to bed hungry each night.”
Oxfam says the World Bank itself is partly to blame for the crisis.
The World Bank’s investments in agriculture have tripled in the last decade, from $2.5bn in 2002 to $6–8bn in 2012. Oxfam argues that although such an increase is welcome, it also heightens risks which must be addressed.