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Unilever has become the first foreign company licensed to directly import finished goods into the country. The landmark development was marked by the official launch of Vaseline, Unilever’s world-renowned skincare brand, making high-quality skin health products more accessible than ever to Ethiopian consumers. This follows the Ethiopian Investment Commission’s amendment of Directive No. 1001/2024, which formally opens Ethiopia’s wholesale, retail, import, and export sectors to foreign investors.

This moment reflects the broader impact of Ethiopia’s recent economic reforms, which have begun to reshape trade dynamics and attract global investment by easing import restrictions on finished goods. For the first time, multinational companies like Unilever can bypass traditional import bottlenecks and bring globally trusted brands directly to Ethiopian shelves.

Held in Addis Ababa, the event was more than a typical product launch. It served as a platform to build trust and deepen brand engagement with Ethiopian consumers. Through interactive displays and insightful discussions, attendees were introduced to the full Vaseline product range, with particular emphasis on formulations suited to Ethiopia’s dry air, high altitudes, and varying climates. The experience was thoughtfully designed to establish a strong and enduring connection between the brand and its new market.

“Today is not just a product launch; it’s a celebration of partnership, progress, and our unwavering commitment to the well-being of the Ethiopian people,” stated Nesibu Temesgen, General Manager of Unilever Ethiopia. “The opportunity to directly import Vaseline is a game-changer for us and, more importantly, for Ethiopian consumers. It underscores our dedication to this dynamic market and our promise to provide products that truly make a difference in people’s lives.”

For over a century, Vaseline has stood as a beacon of skin health, from its iconic Vaseline Petroleum Jelly to its comprehensive Intensive Care lotions. These products, known globally for their ability to heal, restore, and protect, will now be readily available across Ethiopia’s diverse communities.

The launch introduces Vaseline’s advanced lotion formulations directly to consumers. Vaseline lotions eliminate the need for extra oils, simplifying and improving skincare routines. They save time and reduce costs, offering a premium solution widely available across Ethiopia starting at ETB 80 for Petroleum Jelly and ETB 300 for Lotions. 

 


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The International Finance Corporation (IFC), a member of the World Bank Group and the largest global development institution focused on the private sector in emerging markets, has appointed Ethiopis Tafara as its Vice President for Africa.

In this leadership role, Ethiopis will oversee IFC’s strategic investment and advisory operations across Africa. He will lead a team of nearly 800 staff members and manage a growing portfolio currently valued at USD17 billion, aimed at boosting job creation and accelerating private sector development in key sectors including infrastructure, agriculture, manufacturing, finance, and telecommunications.

A U.S. national of Ethiopian origin, Ethiopis brings extensive experience from previous senior roles within the World Bank Group. Most recently, he served as Vice President, Chief Risk, Legal & Sustainability Officer for the Multilateral Investment Guarantee Agency (MIGA). He also previously held the position of Vice President and General Counsel at IFC.

“Africa is an increasingly important voice on the global stage,” said Ethiopis. “Though challenges persist, the opportunities are even greater. The continent’s private sector and entrepreneurs are more dynamic than ever before.”

Born in Ethiopia and raised between Ethiopia and Italy, Ethiopis is fluent in Amharic, French, Italian, Spanish, and English. He holds a Juris Doctor (JD) from Georgetown University Law Center and an AB degree from Princeton University. His expertise spans capital markets, corporate law, governance, compliance, and risk management.

Welcoming the appointment, Makhtar Diop, Managing Director of IFC, stated:

“I am thrilled to welcome Ethiopis to this role. His deep and long-standing commitment to Africa’s development and his unique skillset are well-suited to support the continent’s development pathways.”

Ethiopis will be based in Nairobi, Kenya, and succeeds Sérgio Pimenta, who recently retired after nearly three decades of service at IFC.

In the 2024 fiscal year alone, IFC delivered record investment levels across 45 countries in Africa, including 30 classified as low-income or fragile and conflict-affected situations (FCS). 




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