African Action Plan On Land-based FDIs Underway

ISSUES affecting Foreign Direct Investment in Africa will form the basis of discussions at the 'High Level Forum' that will hold in Nairobi, Kenya, between Tuesday and Thursday this week.The Forum, which is co-sponsored by CODA, will bring together land experts, African Ministers in charge of land, traditional rulers, parliamentarians, representatives of CSOs, farmers' organisations, eminent personalities, women organisations, private sector practitioners, centers of excellences as well as development partners, to discuss issues relating to Foreign Direct Investments in Agricultural land in Africa.Tagged High Level Forum on Foreign Direct Investment in Land in Africa,' the conference is jointly organised by the African Development Bank (AfDB) Group, the United Nations Economic Commission for Africa (UNECA) and the African Union Commission (AUC).AfDB's Head of External Relations and Communications, Mr. Richard Uku, said participants, will, over the two days, share information and experiences on foreign direct investment in land in Africa, develop an African perspective on land-based investments on the continent and propose a framework of concrete interventions for the implementation of the AU declaration on land issues.A joint study by the FAO, International Institute for Environment and Development (IIED), and the International Fund for Agricultural Development (IFAD), reveals that, since 2004, there has been nearly 2.5 million hectares worth of 'approved land allocations' in just five African countries.AfDB, during the week, agreedthat 'this fast-evolving phenomenon creates opportunities, challenges and risks.'For instance, it is believed that increased investment may bring macro-level benefits ' in the form of Gross Domestic Product (GDP) growth and increased government revenues ' and create opportunities for raising local living standards, yet 'large-scale land acquisitions can result in local people losing access to their sovereign resources. It can also pose environmental risks, and result in biodiversity loss and social conflicts.''Consequently, the currently unfolding land investment story reflects deep global economic and social transformations, with profound implications for the future of Africa's agriculture.'Uku said an 'Action Plan to address this issue is expected from the Forum.
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