The Paradox in the Political Economy of Land Grabbing in Africa as Medium of Exchange and Its Implication on States

Abstract

The foremost definition of the global land grab refers to acquisition of land in large scale – be it purchase or lease – for the purpose of agriculture etc. by foreign investors. The term has been extended to also cover transnational commercial land transactions and domestic deals and highlights the commercial nature of the transactions regardless of scale and output market. It is from the foregoing that this paper tries to make an analytical x-ray of the intricacies and controversies surrounding the issue of land grab and to also look closely at the dynamics of its medium of exchange as it pertains to foreign investors and local land owners in parts of Africa. The paper makes a practical indepth analysis of the issue from a pragmatic standpoint hence employing case studies. The paper relies largely on desk research but also adopts quantitative data gathered from field survey by other research institutions and individuals. The paper deduced that the political economy of land grab is largely detrimental to the host countries and the local populace at large and recommends amongst others that governments of local communities and states within Africa and other regions where this is prevalent must rise up to the occasion and secure the land of its people which is a great assert and is of significant importance due to its value. However genuine businesses in the form of foreign direct investment must be allowed to thrive as no country can survive in isolation without private sector involvement.