Centum cancels plan to buy $25B of land in Uganda to expand its agribusiness
The Indian company Centum Investments has cancelled its plans to acquire land in Uganda as part of a $25 billion expansion of its agribusiness, reports Business Daily Africa. The company told that it was unable to acquire the 14,000 acres of land in Masindi.
“We had legal challenges. Or rather the land had legal challenges arising from the vendor’s previous dealings. And we opted not to progress and be caught up in those issues,” said Centum Investments chief executive James Mworia.
“It is a question of the risks you’re prepared to take. We want to take agricultural risk; we don’t want to take a legal risk.”
Publication date: 11/30/2017
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