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Rural land grab has unleashed mass dislocation, imposed financial risks on Ethiopia – while benefitting some investors: Case Karuturi

23 Jun

By Keffyalew Gebremedhin – The Ethiopia Observatory (TEO)

The cut off date in the foreclosure notice of June 3, 2014 by the Commercial Bank of Ethiopia (CBE) against Karuturi Global’s agribusinesses in Ethiopia was potent in doing what it was supposed to do. Not only that it had him pay the required $25 million in foreign exchange. But also it cut down to size an uncooperative client, who for years had been known to suck every dividend from the influences his half-thought through feeding the world promises and smooth talk had availed him.
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