Jeune Street

Friends of mine have just launched a venture called GoCongo in Lumumbashi, DR Congo, to develop tracts of arable land into productive farms for the region. The initiative is designed to make profit, with part of the proceeds channelled into community-based schools in the area. Here's what they say about their vision:

Although we make our money with businesses, we invest it into people. We believe that this is the most valuable, sustainable, and profitable investment we could choose. The opportunities for skill-building in this region of the world are immense, and we go to great lengths. "Every human being is potentially the light of the world and at the same time its darkness. Wherefore does the question of education come in as of primary importance."

This model of development has great potential, primarily because it doesn't rely on foreign aid. GoCongo aren't the only ones with their eyes of Africa's farming potential, however. The Financial Times reports on Philippe Heilberg, a US businessman, who has recently bought a large piece of land in Sudan for farming (after running into complications over oil exploration rights):

He is of a resurgent class of western businessman drawn to the potential of Africa's remaining frontiers, who have been energised by Asia's, and in particular China's, appetite for the continent's natural resources.

Sudan experts familiar with his business strategy liken him to buccaneering capitalists such as Sweden's late Adolph Lundin, who acquired mining and oil concessions in Congo and Sudan when civil wars were still raging and turned huge profits when they sold them on.

The FT is right to cast a suspicious glance at people like Mr Heilberg, but I have to say that western investment in African agriculture is a whole lot better than oil. Oil extraction just seems to spread devastation, corruption and inequality in Africa. Look here if you need any further proof.