Ethiopian Farms Lure Investor Funds as Workers Live in Poverty

Bloomberg — Until last year, people in the Ethiopian settlement of Elliah earned a living by farming their land and fishing. Now, they are employees. Dozens of women and children pack dirt into bags for palm seedlings along the banks of the seedlings whose oil will be exported to India and China. They work for Bangalore based Karuturi Global Ltd., which is leasing 300,000 hectares (741,000 acres) of local land, an arealarger than Luxembourg. The jobs pay less than the World Bank’s $1.25-per-day poverty threshold, even as the project has the potential to enrich international investors with annual earnings that the company expects to exceed $100 million by 2013. Read More…