Akili Creative Agency concluded 600,000 Birr contract which gives it five years deal to use 4,000 Square Meters land and the surface of Ethiopian Grain Trade Enterprise’s (EGTE) 43 silos that are located at Gotera area.
The five years contract runs from January 1, 2015 and gives Akili the right to utilize the 4,000 Square Meter compound for 30 Birr per square meter for a year. It also allows Akili to use the 43 silos that are located in the compound.
It was a month ago the two parties concluded the agreement after a yearlong negotiation, Tekeste Sebihat, founder of Akili explained.
We designed a proposal of changing the image of the place to green area and approached the EGTE to rent us the place a year ago,’’ Tekeste explained.
Etenesh Gebremichael, public relation & trade information supportive process manager at the EGTE, noted different companies have approached EGTE to rent the silos as an advertising platform. She explained why the Enterprise chose to work with Akili as, “Akili’s proposal includes fencing the company and to change the area in to green by cleaning the water that is cumulated inside the compound and that is damaging the silos in rust’’.
According to Fortune, Akili has contacted major beverage manufacturers to sponsor the project by displaying their advertisements on the silos in order to cover the costs of cleaning the area and changing it in to a public art project.
Tekeste noted his company is under negotiation with three companies for a yearlong agreement in order to display advertisement of their products. When a potential deal is reached between Akili and a company for advertisement, EGTE will be requested for its approval before the advertisement is hung on the silos, he furthered.
As part of the agreement Akili is first going to fence the compound with a transparent material and landscaping the compound. Tekeste explained this stage is intended to make the place suitable for events that will be held on the open air.
In two months time the place is going to be transformed and get its new look, he furthered. He added his company intends to cover the whole 4,000 square meters with grass which will cost the company 150 Birr per square meter.
Source: Fortune
