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Losses Force Unilever Out of Ethiopia



Published November 22, 2005
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ETHIOPIA: Unilever announced that it is closing its Ethiopian office due to losses the company has incurred in the past four years. Although Unilever opened its Ethiopian office four years ago in a joint venture arrangement with local trading house Almeta Impex, the Ethiopian consumer market has been familiar with Unilever for half a century because of its powdered detergent Omo, which is manufactured in Kenya.
“The existing structure has not permitted the company to generate a profit for the local business due to high operating costs,” commented Richard Ponsford, Kenyan national managing director.


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