Thursday, December 08, 2011

land grab - who benefits

AgriSol negotiated tax breaks with the government of Tanzania for income earned on a 325,000 hectare plot, for which the agro-giant will likely net an annual profit of 275 million dollars. This sum surpasses the Tanzanian ministry of agriculture's total yearly budget.

A report by the East African NGO Uwazi estimates that "2009/10 tax exemptions in Tanzania amounted to 425 million dollars. That money could have financed 40 percent more resources for education or 72 percent more resources for health between 2009-2010."

The U.S. leases its land for 16,000 dollars per hectare for just one year, Ethiopia leased 10,000 hectares of land to the Saudi Star for free over a 60- year period, while Mali leased 100,000 hectares for free over a similar time period.

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