Analyses the configuration of land rights among different users of land and discusses the implementation of Tanzania’s land policy reform. The key rights explored include those of small-scale producers (farmers and pastoralists) and large-scale investors. Explores how the state defines, allocates, protects and compensates for land when it appropriates such rights. Looks at the formal, informal and procedural rights that provide for and protect the rights of small-scale producers and investors, and the compensation offered to those who give up their land for investment. Also discusses how these rights are configured during the investment negotiation and implementation phases of land deals. Argues that while the proposed draft National Land Policy of 2016 tries to address the core problems related to the poor implementation of the 1995 Land Policy, the current draft also has significant shortcomings and is only likely to be successful if the process becomes more inclusive, prioritizes small-scale local producers, and addresses issues of inequality and ethnic and class-based struggles over land.