TF International Desk
Several retailers like H&M, Primark others are sourcing from Ethiopia. What attracts them is wage bills in Ethiopia are only a fifth of China’s and half of Vietnam’s. This makes the country one of the fastest growing economies in sub-Saharan Africa. Ethiopia is the second largest electricity producer in sub-Saharan Africa. The country’s power is among the cheapest in the world, is 86 per cent renewable and is on track to be 100 per cent renewable over time.
The country focuses on producing electricity from hydro, wind and geothermal sources. Ethiopia has launched a strategy to make the most of its potential in the textile sector.
The industry has advantages like power abundance and a growing human and material capital. It is witnessing rapid growth as a number of domestic and multinational firms are engaged in production of textiles, garments and apparel for domestic and global markets. The country has Africa’s largest industrial park.