May 10, 2019 IBOMLLC Team

Ethiopia might be Africa’s fastest Growing Economy, but it is also home to World’s Cheapest Garment Factory Labor

ethiopia

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

Africa has over the last few years been hailed as a fast-growing economy; with Ethiopia being the fastest growing economy on the continent. Ethiopia is also a top producer of garments; produced in an industrial setup.

Now to some shocking news! Despite Ethiopia being the fastest growing economy in Africa, and by extension making Africa a fast-growing economic region. The country is also the cheapest labor force on the planet.

That is according to a report by New York University’s Stern Center for Business and Human Rights. The body says the minimum wage per month for the average Ethiopian working at a garment factory is $26. Making workers at Ethiopian garment factory the lowest paid workers for a major garment company across the globe.

Attract foreign investment by lowering the cost of labor

The authors of the report – Paul M. Barret and Dorothee Baumann-Pauly – say these lowest wages being witnessed in Ethiopia is as a result of the government’s desire to attract foreign investments.

The government’s eagerness to attract foreign investment led it to promote the lowest base wage in any garment-producing country-now set at the equivalent of …read more

Read more here:: Ethiopia might be Africa’s fastest Growing Economy, but it is also home to World’s Cheapest Garment Factory Labor

      

IBOM LLC

We're passionate about your business and we only offer the best solutions.