AAICEC: to Bring Economic Modernity

Like the Grand Ethiopian Renaissance Dam/GERD/, the Addis-Africa International Convention and Exhibition Center /AAICEC/ is the nation’s future source of pride and national identity, it’s also a mega project that Ethiopians and the whole African nations can be proud of.

To be located in the Eastern part of Addis Ababa, close to CMC residential area,the compound of the AAICEC shall have a total area of 110,126 Sq. m which is secured in lease for a period of 90 years.

The quest for establishing /AAICEC/ is nothing but a natural expression of economic modernity and derivation of emerging market economy in the country, and it is the brainchild of the business community and the Addis Ababa Chamber of Commerce and Sectoral Association.

Realizing the need to engage public sector and significance of the establishment of this great center, it was initially the Addis Ababa City Administration, the Addis Ababa Chamber of Commerce and Sectoral Association, Gift Real Estate P.L.C, Travel Ethiopia, Exhibition Center and Market Development Enterprise, Ethio-South Investment Share Company, and Abyssinia Bank are among the major founding member of AAICEC as it requires large amount of investment.

Waving a vision to promote Addis Ababa as a vibrant African Business Hub, the Addis Africa International Convention and Exhibition Center aims to provide a venue where members of the business community, executives, policy makers and the general public come together to share business information.

The Convention and Exhibition Center specifically gears towards enhancing the roles of the private sector in the national economy, promoting and strengthening the global competitiveness and integration of Ethiopian economy, promoting exports, facilitating technology transfer and inflow of foreign direct investment, facilitating public private partnership /PPP/ and promote inter-Africans and with the rest of the world.

This first-of-its- kind convention center project has taken into consideration the city’s being the seat of the African Union and various international organizations and global experiences in the sector, For example, we have tried to gain insight into formation of such centers, visiting international convention centers in Hong Kong, Milano, in Italy and Dubai.

“The AAICEC is a national project like the Grand Ethiopian Renaissance Dam /GERD/which seeks the attention of the Federal Government and the public at large”

AAICEC houses world-class venues for international conferences, exhibitions, and other related events.

ABYSSINIA BUSINESS NETWORK ABN

Ayalew Abey General Manager Addis-Africa International Convention and Exhibition Center/AAICEC/ S.C.

AAICEC

According to the master plan of the project, venues to be made available include: • Exhibition ground with a total indoor and outdoor spaces of 20,600sq. m and 6,700sq. m respectively; • Multipurpose hall with the capacity of hosting 5000 guests at a time; • A conference hall with over 3000 seats; • Two auditoriums with 500 seats each; • Six smallmeeting rooms with a capacity ranging from 50-100 seats; • A four-star hotel; • Amphitheater, • Big malls, and • Other related facilities including restaurants, canteen, lounge and playgrounds.

We have planned to undertake the project in three construction phases that is estimated to cost over three billion birr, and currently the first phase of the construction process stands at 35%.

In line with the decision passed on the 4th ExtraOrdinary Meeting of the Shareholder, those who purchased shares with total value of birr 100 million and above will have the right to share from the founding shareholders’ benefit. Accordingly, Ethio-South Investment Share Company, which fulfills the requirement, has the right to share all privileges allowed to founding shareholders.

As the project requires huge investment we still look forward to having various companies such as hotels and government development enterprises like the Ethiopian Airlines. Because the wouldbe AAICEC is very essential for the hospitality industry and the air transport sector; these sectors need to invest in this giant project, beating two birds in a stone, building the City’s image and gaining benefit from the investment.

The AAICEC is a national project like the Grand Ethiopian Renaissance Dam /GERD/which seeks the attention of the Federal Government and the public at large. The international experience shows us that such centers are backed by governments. For example, the Dubai International Convention and Exhibition Center is mainly owned by Fly Emirates and the governor of the city.

Hence everyone should understand that it can be viewed as the country’s future tourist attraction that is believed to generate significant amount of foreign currency and job opportunity for citizens.

When it comes to the Grand Ethiopian Renaissance Dam /GERD/ which has been bringing all Ethiopians at home and overseas together, every AAICEC shareholder has bought bonds and donated significant amount of finance to the Renaissance Dam.

“As we are approaching to fill the Dam, we are delighted to see the fruits every Ethiopian sowing. It must be completed and go operational as quickly as possible.”

It should be noted that our fathers, forefathers and great grandfathers have paid lots of sacrifices in quest for the fair utilization of the Abay River aka Blue Nile. However, a new day has come as Ethiopia, for the first time, launched a mega project over its natural resource, incorporating local financial resource, expertise and labor some nine years ago.

We understand the multifaceted benefit of the Dam and will continue to provide support for the realization of the project. We strongly believe that this is key for Ethiopia’s future development; it’s a key project that undoubtedly brings back the nation’s greatness.

GERD is a matter of survival for me, my children and my grandchildren and generations to come. As we are approaching to fill the Dam we are delighted to see the fruits every Ethiopian sowing. It must be completed and go operational as quickly as possible.

ABYSSINIA BUSINESS NETWORK

ABN

AAICEC is planned to be a multi-purpose business center which will host a range of events including international conferences, conventions, trade fairs and exhibitions. The center will also be a venue for other related events such as exchange of business information, establishment of business contacts, undertaking of business deals, as well as short-term trainings on business developments. In short, AAICEC is more than a trade fair center. The center is designed in a way that provides multifaceted business facilities ranging from an international convention center to pavilions for showcasing products and services.