Emerging regional powers’ in the South have produced powerful finance capitalists such as the Egyptian firm, Citadel Capital that is buying land, rights to water and precious metals. Allied with global governance institutions, such finance capitalists represent greater control over vital resources and distribution routes for private wealth accumulation. The Egyptian firm Citadel Capital is buying land, rights to water and precious metals. Much land grabbing, or large-scale acquisitions of farmland by investors, states, and others since the 2007-2008 food-fuel-financial crisis, is the work of local and regional actors, rather than wealthy Western individuals and institutions. To understand South-South land grabbing, though, we must look beyond the role of BRICs, which has received much attention in the media and literature, to ‘emerging regional powers’ with economies large enough to have generated sizable classes of finance capitalists and corporate business during the last decades of privatization and liberalization. As the case of Egypt and southern neighbours suggests, we must also look beyond farmland to understand the value of fertile agricultural land to investors – and what the implications are and may be for community and national sovereignty… http://www.farmlandgrab.org/post/view/22920#sthash.20iW2OBc.dpuf
The Egyptian firm Citadel Capital is buying land, rights to water and precious metals.