The Gates Foundation Investments in Monsanto

The Bill and Melinda Gates Foundation, which is sponsoring the Guardian's Global development site, is being heavily criticised in Africa and the US for getting into bed not just with notorious GM company Monsanto, but also with agribusiness commodity giant Cargill.

www.guardian.co.uk/global-development/poverty-matters/2010/sep/29..

Trouble began when a US financial website published the foundation's annual investment portfolio, which showed it had bought 500,000 Monsanto shares worth around $23m. This was a substantial increase in the last six months and while it is just small change for Bill and Melinda, it has been enough to let loose their fiercest critics.

 

Seattle-based Agra Watch - a project of the Community Alliance for Global Justice - was outraged. "Monsanto has a history of blatant disregard for the interests and well being of small farmers around the world… [This] casts serious doubt on the foundation's heavy funding of agricultural development in Africa," it thundered.

But it got worse. South Africa-based watchdog the African Centre for Biosafety then found that the foundation was teaming up with Cargill in a $10m project to "develop the soya value chain" in Mozambique and elsewhere. Who knows what this corporate-speak really means, but in all probability it heralds the big time introduction of GM soya in southern Africa.