See what Wakanow CEO has to say on future of Africa travel market

• Wakanow has expressed determination to play a critical role in the growth of African travel market
• The company CEO 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 a series of innovations.

Wakanow is an online traveling company Photo credit: Thierry Monasse
Source: Getty Images

Speaking at the event, Adedeji said that there is a huge potential in the African travel market that has remained untapped.

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He noted that Africa’s share in the global travel demographic stands at 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. 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 efforts the company has made include a revamped website powered by advanced artificial intelligence to offer a more personalized 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."

Explaining further, 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