Addis-Africa International Convention & Exhibition Center (AAICEC) Share Company is a public-private investment venture which envisages the establishment of an international convention and exhibition center in Addis Ababa. The establishment of AAICEC S.C has brought the chamber system, government and the business community together into a new form of partnership manifested in terms of joint projec
t financing and management, which never exists before. The Addis Ababa Chamber of Commerce & Sectoral Associations and the Addis Ababa City Government are among the key and major founding shareholders of AAICEC S.C. In short, AAICEC is an investment initiative which stands on strong public-private partnership. AAICEC Share Company is unique in the field of investment it embarks on; the standard of services envisaged by the Company are unparalleled by other providers in the Country. AAICEC is the first in its type in East Africa in its standard and size; it shall also avail a world – class venue facilities for international and national exhibitions, conferences, festivals and shows. The Company stands on solid foundation; the project it embarks on is financially, socially and economically viable, its services are strongly demanded in future Ethiopia; it has also secured more than 11 hectares of land in CMC area, which is one of the prime locations in Addis Ababa. The total investment cost of AAICEC amounts to Birr 2 billion. The Company is well aware of the fact that soliciting this size of investment capital in one go is difficult; therefore, it opts for phased implementation, which involves three consecutive phases. Phase one implementation is expected to commence in 2014/15. To this end, therefore, the Company is currently engaged in soliciting the required investment capital by floating shares for public subscription.
