Ethiopia is the second most populous country in Africa after Nigeria, with about 94 million people. Most of the population (50%) is made up of people aged between 15 and 64 years. It has a high young population evidenced by a median age of 17. Over 40% of the population consists of individuals that are 15 years and below. The young population can thus receive training under the sponsorships of textile corporate firms and the government to work in textile companies or cotton firms. Therefore, corporate power is raising the living standards of people. Additionally, the Ethiopian country is one of the countries in African that experience relative stability and peace, thus promoting investments and economic growth. According to International Monetary Fund (IMF), the country emerged among the fastest growing economies in the globe by recording an economic annual growth of 10% in 200-2009 (Virginia).Ethiopia’s economic growth is also because large corporations are taking advantage of the low production costs and suitability of large tracts of land for cotton plantations. The size of the area is similar to that of Pakistan, the globe’s fourth-largest cotton producer. Consequently, Ethiopia has attracted manufacturers who buy cotton from the farmers at fair prices. Agriculture offers 85% of the gross employment. It provides 47% of the Gross Domestic Product (GDP). Low cost of infrastructures and inputs like water, power, and electricity are other factors that are driving more investors into the country. Institutions such as ETIDI are striving to equip the textile. Corporate Power Global Trend to the Fashion Industry in Ethiopia.
Mosavi, S. "Made in Ethiopia: The rise of the textile industry." N.p., 28 Oct. 2014. Web. <http://www.economistinsights.com/opinion/made-ethiopia-rise-textile-industry>.
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Roach, Brian.“Corporate Power in a Global Economy”.Modules. Tufts University, 12 Mar. 2007. Web. 9 Mar. 2015.
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Virginia. "Is Ethiopia a rising textile sourcing and production star? textile-future by Virginia F. Bodmer-Altura." N.p., 2014. Web. <http://textile-future.com/textile-manufacturing.php?read_article=2306>.
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