Addis ababa: The Ethiopian Chemical Industry Corporation reported revenue of 5.98 billion Birr from its industrial chemical products during the 2017 Ethiopian fiscal year, marking a 7% increase compared to the previous year.
According to Ethiopian News Agency, Hundessa Desalegn, CEO of the corporation, stated that the organization has significantly reduced the country’s foreign currency expenditure by producing local alternatives to previously imported chemical inputs. The corporation serves as a critical development partner, supplying essential chemical inputs to sectors such as agriculture, healthcare, construction, and manufacturing.
Among its locally produced chemicals are high-quality sulfuric acid and hydrogen peroxide, which are vital for the medical, hygiene, leather, textile, and soap industries. The CEO also announced that the corporation has begun domestic production of aluminum sulfate, which was previously fully imported.
Hundessa emphasized the corporation’s role in strengthening the national
economy by reducing import dependency through local chemical production. Additionally, the corporation has started producing agrochemicals to support Ethiopia’s goal of achieving food sovereignty. These products include 22 types of locally made chemicals, such as herbicides, pesticides, and wheat germ protection agents, which comply with international standards set by the Food and Agriculture Organization (FAO) and the World Health Organization (WHO). These chemicals are now accessible to Ethiopian farmers.
Despite past challenges, including high debt levels and operational losses, the corporation has undergone significant reforms that have restored its profitability. Since implementing these reforms, the corporation has experienced consistent growth in both revenue and profit, as noted by the CEO.