Business

Ethiopia’s Garment Workers are World’s Lowest Paid –Report

  • Ethiopia’s Garment Workers are World’s Lowest Paid –Report

Ethiopian factory workers are now, on average, the lowest paid in any major garment-producing company worldwide, a new report says.

The report by the New York University Stern Centre for Business and Human Rights comes as Ethiopia, one of Africa’s fastest-growing economies, pursues a bold economic experiment by inviting the global garment industry to set up shop in its mushrooming industrial parks, Associated Press reported.

“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 $26 a month,” according to the authors of the report, Paul M. Barrett and Dorothée Baumann-Pauly.

Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Share
Published by
Samed Olukoya

Recent Posts

Zenith Bank Enhances Staff Pay by Over 20% and Promotes Over 4,000

One of Africa’s leading financial institutions, Zenith Bank has reaffirmed its dedication to employee welfare…

1 day ago

Nigeria’s External Reserves Drop to $40.09 Billion Amid Currency Market Challenges

Nigeria’s external reserves declined to $40.09 billion as of January 21, 2025, according to data…

3 days ago

GTCO and UBA Lead Activity as Market Cap Holds Steady at N63 Trillion

The Nigerian stock market closed on a mixed note on Wednesday as the All-Share Index…

3 days ago

Nigerian-American Billionaire Ogunlesi Sees Fortune Rise by $600 Million in One Week

The net worth of Nigerian-American billionaire Adebayo Ogunlesi has surged by $600 million in a…

3 days ago

Pounds to Naira Black Market Exchange Rate Today, 24th January 2025

The exchange rate between the British Pound (GBP) and the Nigerian Naira (NGN) in the…

3 days ago

Dollar to Naira Black Market Exchange Rate Today, 24th January 2025

How Much is Dollar to Naira Today in Black Market? As of today, 24th January…

3 days ago