Gbenga Onitilo
Director of Corporate Sales and Holidays of Wakanow Group, Gbenga Onitilo, has said that the company – which is one of Africa’s leading travel agencies – will be making expansions, by not just partnering with, but moving into major francophone countries within Africa as well as setting up shop in the United States.
In an interview with ARISE NEWS on Monday at the Akwaaba African Travel Market (AfTM) Exhibition event that took place at the Eko Hotel and Suites, Mr. Onitilo stated, “We are expanding as far as francophone countries, going as far as Dakar, Cote D’Ivoire, Togo and other Francophone countries.
“Expansion is also taking us as far as Canada and the US in showcasing the strength of a Nigerian business.”
Onitilo harped on the potential of the travel industry. “Travel business in Nigeria has the potential to employ the highest number of people, so if the government invests and supports, we can do a whole lot and also invest in local tourism.
“It can be an opportunity for a whole lot of entrepreneurship growth. It will provide more job opportunities as well as space for more inbound and outbound tourism.”
Wakanow being one of Africa’s most thriving travel agencies has about 30 physical offices spread across Nigeria’s major cities. The organisation has also made a mark in nations outside Nigeria such as Ghana, Liberia, Sierra Leone, The Gambia as well as Dubai and London.
Some of Wakanow services include WakaPoint, a ticketing platform for events, WakaNow.com; which is the online travel booking business for hotels, flights, visa, and the likes; Kalabash, a fintech branch for ease in payment of flights services and trips, and a Pay Small Small branch targeted at providing flexible payment options for younger persons who are travel enthusiasts.
According to Onitilo, “They are some of our biggest foot soldiers in the market. We also do a sub agency where we have people who don’t have licenses to trade, so that they can trade their business through us. We’ve been able to consolidate the market. The biggest in the market.
“We are talking about 20% market share in the whole of Nigeria. So with our footprint that we have physical offices all across Nigeria, you can also look at our digital footprint. In terms of Online Travel Agency in Nigeria we are about 60% market share.”
He said the organisation has more plans to consolidate the market and promote seamless travel around the world.
Onitilo expressly stated that one of the major challenges faced by the sector and many businesses within it, is the fluctuation of the Nigerian foreign exchange system in the past few years, with this year placing the difficulties at an all time high.
“Our business is predominantly driven by Forex and the rate of exchange impacts what we sell to customers. For example, flights are impacted by foreign exchange. Since the unification of the exchange rate, we have had it jump to about 300%.
“For example, flights that used to be N500,000 as of May this year, are now about one million naira. So foreign exchange policy of the government impacts affordability.
“It also has affected airlines repatriation of funds. Because over the years since 2016, airlines have struggled to repatriate their funds. And because of this difficulty, it has led to a high price of ticketing. What it means is that lower price tickets have been taken off and they only allow the highest end.
“And the reason for this is to be able to mitigate against the risk they are suffering.
“Also the government needs to intervene in terms of low interest loans, so the people can trade better in volume and develop their capacity as well.
“So it’s a business that the government needs to create policies to enable and empower major players.
“Tourism Is an ecosystem in itself. Hospitality, travel, and even the night life. If one segment suffers, it affects all the others. So whatever the government is doing has to enable all that.”
Glamour Adah
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