Fortune News | Jun 19,2021
Betahon Special Events Plc, a new entrant in the event organising industry, has grasped a deal to host the Christmas and Easter expos at the Addis Abeba Exhibition Centre after offering an unprecedented 111 million Br.
Betahon was one of five companies in a bid in August this year, offering 68 million Br to host the Christmas bazaar and 43 million Br for the Easter expo. The offer is 65pc higher than the previous record of 67 million Br offered for the two events.
Eyoha Addis Entertainment, an industry veteran, was runner-up, offering a total of 72 million Br to host the two events. Eyoha, established in 2015 with 50,000 Br capital, has organised eight major expos thus far, including the Ethiopian New Year Expo held at the Exhibition Centre last month. It hosted the event after bidding 46.7 million Br earlier this year.
The Exhibition Centre & Market Development Enterprise has awarded Betahon the contracts for the two upcoming events, scheduled for this coming December and in April 2022. The company has made a down payment of 20pc of the total amount. The inordinate bids have drawn the criticism of some in the industry. But Betahon's management remains contented with the outcome, hoping the expos will attract 30,000 people a day.
"We hope to rent 40pc of the space to international companies," said the company in a statement, disclosing it has started renting booths.
The trade fairs will attract between 1.5 million and 2.5 million visitors, and both events are expected to see transactions of over 750 million Br, according to Betahon. The event organiser plans to ask vendors close to 14,000 Br a square metre, 11pc higher than the fee Eyoha charged for the recent New Year expo.
Kaleb Assefa is a trader of kitchen appliances who took part in the New Year Expo held last month. He worries that business people like him will be put off by hefty fees Betahon needs to charge to make the margins.
"It's a bit inconsiderate of the Ethiopian context and the current circumstances," said Kaleb.
A shipment of stoves Kaleb ordered to be delivered in September has yet to be shipped due to the global shortage of containers that occurred in the wake of lockdowns and restrictions due to the COVID-19 pandemic. Importers struggle to transport their goods, mainly from ports in China, where the most acutely felt shortage.
Endalkachew Bekele is a marketing expert in the event organising industry. He lays the blame for the exaggerated offers on the Enterprise, a company under the Addis Abeba Chamber of Commerce & Sectoral Associations that manages the Centre in a deal with the Addis Abeba City Administration. The Enterprise expects 10pc increases on offers every year.
The Exhibition Centre, which took a series of hits due to the pandemic and then the construction of the Mesqel Square project, did not host any expos for nearly a year. However, it earned 97 million Br in revenues last year, mainly from collecting rental fees from the National Election Board of Ethiopia (NEBE), which had used the venue as a storage site.
The Enterprise`s managment appears to be pleased seeing a novice surfaced, with the demonstrated capacity of depositing 20pc of the bid amount.
"We`re glad to see a new company on the scene," said Tilahun Tadesse, general manager of the Enterprise.
PUBLISHED ON Oct 16,2021 [ VOL 22 , NO 1120]
Fortune News | Jun 19,2021
Radar | Jun 22,2019
Radar | Apr 16,2022
Radar | May 25,2019
Radar | Jul 13,2019
Fortune News | Jan 29,2022
Radar | Nov 21,2018
Fortune News | Oct 30,2021
Radar | Jul 27,2019
Radar | Aug 17,2019
November 27 , 2021
Against my will, I have witnessed the most terrible defeat of reason and the most sa...
November 13 , 2021
Plans and reality do not always gel. They rarely do in a fast-moving world. Every act...
October 16 , 2021 . By HAWI DADHI
Residing in a country with no capital market, an organised marketplace for trading se...
August 28 , 2021 . By HAWI DADHI
The streets of Addis Abeba are as varied as they are many, although too many of them have yet to be named. From the narrow alleyways of the...
Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...
When the country’s most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or tw...
May 21 , 2022
There was a great deal of handshaking and patting each other on the back at the Hyatt...
May 14 , 2022
Diana Yohannes is one of those actively engaging in social media platforms with her T...
May 7 , 2022
The Ethiopian Economic Association (EEA) recently proposed the formation of a macroec...
April 30 , 2022
There is no ambiguity in the UNDP's assessment of Ethiopia’s economic performance a...
PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize
May 6 , 2019
Adulteration is getting out of hand. Consumers in Ethiopia are being left to their ow...
Or see contact page