Wednesday, May 22, 2024
BusinessAddis chamber earmarks 30 million birr for television, radio stations

Addis chamber earmarks 30 million birr for television, radio stations

The Addis Ababa Chamber of Commerce and Sectoral Association finalized a feasibility study to establish a dedicated television and radio stations to the tune of 30 million birr. The study found that a-24 hour business broadcasts is a viable investment.

The chamber is currently waiting for the board to give the green light to commence resource mobilization. The stations will need 200 square meter floor, which will be inside the chamber’s current premise around Mexico square, or its headquarters under-construction around Megenagna. There is also a consideration to install each of the stations at different places.

The organization allocates 30 percent of the projects cost, while the rest comes from bank loans.

“It is a highly bankable plan. It will return the investment cost in a few years. There is no business television in Ethiopia, according to our study on the media landscape,” Kassahun Mamo, Communication and Promotion manager at the Chamber, told The Reporter.

The broadcast aims to serve the private sector, with a business TV station on par with Bloomberg. The stations will have international broadcasting formats to enable the Ethiopian private sector catch international audiences and market their products.

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The chamber has so far been renting airtime from other television and radio stations, which Kassahun says is not sufficient with the new ambitions of the Chamber.

The new investment is part of efforts underway to reform the organization. The Addis Ababa Chamber and Sectoral Association currently rolled out targets across 23 pillars identified to reform the organization. The new objectives mainly focus on advancing the interest of the private sector, and working with the government.

Currently, the chamber is working with the government on PPP, especially with the Addis Ababa city government, in terms of managing and operating major venues such as the Meskel square.

Currently without a secretary general after Getachew Regasa resigned a month ago, the Chamber also plans to reform itself internally. In its five years strategic plan recently initiated, it envisages creating a stronger private sector in Ethiopia.

“So far, the chamber has been shadowed by individuals. Even though there are many capable experts in the organization, it could not contribute to the private sectors development. Now everybody in the organization is ready to reverse that reality,” added Kassahun.

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