The Exhibition Centre and Development Enterprise (ECDE) which administers the Addis Ababa Exhibition Centre disclosed that it has exceeded its revenue targets for the just concluded Ethiopian fiscal year 2011/12 by 24 percent.
Tamrat Admasu General Manager of the ECDE said that the enterprise had planned to generate about 13.2 million birr in revenue during this period but managed to collect 16.1 million birr. Almost all the income came from rent from 45 exhibitions and trade fairs, with two percent coming from weddings and meetings.
The Enterprise also managed to generate a net profit of 5.64 million birr during the just concluded fiscal year.
“Ninety percent of the trade fairs and exhibitions are specialized fairs like agriculture, tourism, education and information technology,” said Tamrat adding that usually such types of exhibitions are planned well in advance.
ECDE says it has already finished its registration for trade exhibitions and trade fairs to be held in the current fiscal year 2012/13. They expect the 50 exhibitions to rake in 18 million birr.
Another exhibition centre has been planned under the name Addis-Africa International Trade center to create an alternative place for trade fair exhibitions scheduled to be built on 116,000sqm of land in the CMC area of Addis Ababa by the Ethiopian Chamber of Commerce and Sectoral Association (ECCSA).
‘We have implemented a new mechanism for effective ways of organizing and participating in international trade fairs and setting a standard for fair competition for those who want to organize a trade fair, which has helped us maximize the profits of the enterprise,’ Tamrat told Capital.
The Addis Ababa Exhibition center one of the oldest of its kind was given to the Addis Ababa Chamber of Commerce and Sectoral Association (AACCSA) in a 10 year contract signed with the Addis Ababa city Administration in November 2005 as part of the principle of Public – private partnership between the Ethiopian government and the private sector.