Ethiopian and AAICEC sign equity investment agreement
Addis Ababa, August 18, 2023 (FBC) – Ethiopian Airlines Group and Addis-Africa International Convention and Exhibition Centre (AAICEC) have signed an equity investment agreement.
This is to establish an international convention centre in Addis Ababa that will host multiple business events.
The centre, being built and named AAICEC, will be one of the major national projects with the objective of transforming the image of the country. Ethiopian is participating in this project through equity investment to boost conferences, tourism, and trade in the country.
Ethiopian Airlines Group CEO Mesfin Tasew said: “We are truly pleased to be part of yet another initiative that would boost our country’s tourism, trade and investment. Playing a catalyst role as an aviation ambassador from its inception, Ethiopian has been promoting Ethiopia across its destinations. We have embarked on Ethiopian Skylight hotel and tourism projects with the aim to boost the country’s tourism sector. Now, embarking on this equity investment with AAICEC, we have ascertained our commitment to deepen our role for the proliferation of tourism. We are glad to be part of this major national project that will increase our country’s visibility as an international conference and exhibition centre.”
The centre is believed to increase conference tourism in Ethiopia by offering convenient tourism services. The project, which lies on an area of about 70,000m2, is estimated to be completed by the end of the first half of 2024 encompassing indoor and outdoor exhibition venues, multi-purpose halls, conference centre, auditoriums, office space, shops, restaurant and café and children’s playground among other facilities.