- Wakanow has expressed determination to play a critical role in the growth of African travel market
- The company GCEO, Bayo Adedeji, has shared insights on the plans and efforts made to achieve the goals
- In 2023, about 2.04 million Nigerians travelled out of the country between January and December
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Bayo Adedeji, the Group Chief Executive Officer (GCEO) of Wakanow Group, a travel tech company, has revealed that the African travel and tourism market is projected to reach a revenue of $38 billion by 2028.
Adedeji made this known in his opening speech at the Wakanow Unpacked Expo in Lagos, where his company launched a revamped storefront website and introduced a series of innovations.
Photo credit: Thierry Monasse
Source: Getty Images
Speaking at the event, Adedeji said a huge potential in the African travel market has remained untapped.
PAY ATTENTION: Сheck out news that is picked exactly for YOU ➡️ find the “Recommended for you” block on the home page and enjoy!
He noted that Africa’s share in the global travel demographic is only 2%, despite having about 19% of the world’s population.
His words:
“The opportunity in front of us is larger than what we show and what we think. In Africa, we estimate that there are about 1.5 billion people. When you consider air travel in Africa, only 19 million of those people travel by air.
“Our population is about 19% of the world population, but only 2% of the world’s travellers are African.
“Africans spend about $63 billion on air travel, which is 1.6% of the global air travel expenditure.
“40% of air traffic out of Nigeria is to the UK. We don’t travel alot within Africa. You can see that the opportunity in front of us as Africans is greater than the one behind us. “
Opportunities in the African travel market
According to him, Wakanow is repositioning to take advantage of the continent’s travel and tourism market.
He told Legit.ng that some of the company’s efforts include a revamped website powered by advanced artificial intelligence to offer a more personalised and seamless user experience.
“There is also Roomde, a website that solves hotel and accommodation challenges for travelers, and Kalabash, which helps individuals manage their finances and navigate their travel experiences, all within the Wakanow group.
“At Wakanow Group, our mission is to empower individuals and businesses with innovative solutions that simplify their travel experiences and financial transactions. The launch of these new products marks a significant milestone in our journey towards achieving this mission.”
Adenike Macaulay, CEO of Wakanow Nigeria, elaborated on the significance of the redesigned website, stating:
“The new Wakanow.com creates a modern, vibrant feel for our customers, enabling them to transact seamlessly. The enhanced user interface and intuitive design elements make it easier for visitors to explore our range of products and services.”
Furthermore, Ladi Ojuri, CEO of Kalabash54, said that the Kalabash app users can effortlessly manage their Pay Small Small (PSS) transactions, book flights, settle bills, explore local attractions, and discover top-notch accommodations.
He said:
“The Kalabash App serves as a comprehensive travel companion, offering users a myriad of functionalities to streamline their travel journey. The app puts the power of travel in the palm of users hand.”
Air Peace unveils connecting flights
Legit.ng reported that Air Peace has now extended its passenger connections offer to London from Abuja, Asaba, Benin, Enugu, Owerri, Warri, and Port Harcourt, following the success of its Lagos-London service.
This means that travellers from the states on the list can seamlessly travel to Lagos, where they can connect with Air Peace to reach London, and their bags will arrive at Gatwick airport.
Following the announcement, Nigerians expressed enthusiasm, saying that if the service is seamless, Air Peace will have an advantage over other carriers on the route.
Source: Legit.ng