Tuesday, April 7, 2009

Karuturi Global MD invited to join inaugural class of Frontier 100

Mr. Sai Ramakrishna Karuturi, Managing Director of Karuturi Global Ltd was invited to join the inaugural class of Frontier 100, an initiative of IGD, Initiative for Global Development.

Frontier 100, identifies promising CEOs in developing countries and creates opportunities for these leaders and global CEOs to exchange knowledge, develop business and collaborate in global leadership.

IGD is a national alliance of U.S business leaders that works to promote global poverty reduction through national policy advocacy and through its Programs for Enterprise Growth, which advance private sector solutions to expand economic growth in poor countries like Africa.

Mr. Karuturi is selected as one of the top 20 CEO of the African region to take part in this inaugural session of Fortune 100 for his efforts in alleviation of poverty through the agri initiative in Kenya and Ethiopia. Ethiopian Meadows PLC an 100% subsidiary of Karuturi Global Ltd was allotted 8,50,000 acres of land by the Ethiopian government during 2008 for cultivation of food grains, palm oil, sugar cane and already 30,000 acres of land is brought under cultivation. This agri initiative when fully operational by 2013-14, is expected to fulfill a large part of the global food demand.

Sher Karuturi based in Kenya is the worlds largest floriculture unit with a greenhouse production capacity of 600 million stems per annum and with 188 hectors of land under cultivation. Sher Karuturi employs around 4,000 workers in this farm whose produce is exported to Europe, Middle & Far east and USA.

With these two production facilities put together, Karuturi holds one of the largest agriculture land bank in the world.Mr. Sal Ramakrishna Karuturi is the only CEO of Indian origin in Africa to be invited for this inaugural class of Frontier 100.Frontier 100 provides unique opportunities for developing country CEOs:

a) New opportunities for business to engage in frontier markets can catalyze growth and reduce poverty in poor countries.
b) Connects with other frontier markets business leaders.
c) Members gather once a year to discuss business issues and establish a basis for shared leadership on issues of global concern.
d) Enterprise Teams from global and frontier countries to address common Challenges.

This event is hosted by former U.S Secretaries of State Mrs. Madeleine Albright and Mr. Colin Powell and will feature discussions with prominent business leaders like Neville Isdell, Chairman, Coca Cola Company, Eduardo Castro-Wright, Vice Chairman Wal - Mart Stores, Inc, Jeffrey R Immelt, Chairman and CEO General Electric etc. This event is scheduled to commence from May 04, 2009 in New York City. USA.
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