Wakanow, a Nigerian online travel agency, is set to lead a revolution in travel technology across Africa. At the recent ‘Wakanow Unpacked’ exhibition, the company showcased its new product line, promising improved convenience, convenience and profitability for users. With over 1.5 million registered hotels, a multinational payment gateway and a modular storefront on its revamped website, Wakanow aims to capture a significant portion of the trillion dollar travel and tourism industry, reports Esther Oluku
The freedom to explore the world is undoubtedly one of life’s greatest pleasures. It allows us to experience the beauty of nature, immerse ourselves in different cultures and share the cultures of people around the world.
Traveling isn’t just about flying. It includes everything necessary for comfort and well-being during a stay in any destination. This covers food, accommodation, healthcare, recreation and transport.
The COVID-19 pandemic, with its travel restrictions, has severely affected the travel and tourism industry, the industry that has been hit the hardest. Four years after the pandemic, the United Nations World Tourism Organization (UNWTO) notes that global economies have yet to fully recover to pre-COVID-19 levels.
According to the World Economic Forum (WEF) Tourism and Travel Development Index (TTDI) 2024, while middle- to high-income countries are expected to see significant growth in travel and tourism, developing countries in Sub-Saharan Africa such as Nigeria and the Ivory Coast, remain on the margins of exploiting the economic potential of tourism. Of the 19 sub-Saharan African countries included in the 2024 TTDI, out of 119 countries worldwide, 12 are ranked between 104 and 119.
Global exhibitions for the travel and tourism industry
The World Economic Forum’s (WEF) Travel and Tourism Development Index (TTDI) 2024 reports that global travel and tourism receipts reached 88 percent of pre-COVID (2019) levels in 2023, totaling $9.9 trillion dollars. A 2023 UNWTO report also states that global tourism alone generated $3.3 trillion, accounting for 3% of global Gross Domestic Product (GDP), with Statista predicting a growth rate of 3.47% over the next four years.
Additionally, a chart by Statista shows that hotels and package holidays account for over 75 percent of travel and tourism revenue, and this industry alone is expected to contribute $446.50 billion in 2024. Statista also reports that with user penetration rates to increase from 25.9 percent in 2024 to 28.1 percent in 2028, online sales will account for 76 percent of total travel and tourism revenue. The hotel market is expected to grow to approximately 1.397 million users by 2028.
WEF’s vision for harnessing technology to revolutionize travel and tourism
The WEF proposed integrating technology into the travel and tourism sector to improve user experience and expand the industry into larger markets. Highlighting some of the benefits, the WEF report suggests that adoption will “revolutionize the tourism industry, fundamentally changing the way travelers explore destinations and interact with service providers”.
“From personalized travel planning supported by AI algorithms to immersive virtual reality experiences, technology will increasingly provide travelers with unprecedented convenience and personalization, while digital technology and online platforms empower T&T destinations and businesses,” it said.
Wakanow’s technology adoption
Wakanow Group CEO, Mr. Bayo Adedeji, explained that the need to create products tailored to the African market while responding to the dynamics of emerging global travel demands necessitated upgrading the company’s user experience.
Wakanow Group has integrated a virtual travel assistant, fintech solutions and accommodation bookings into its product range. The new website features an AI travel assistant named Amina, a seamless international payment gateway (Kalabash54) and an Africa-focused accommodation service platform (Wakanow, Rest of Africa (Roomde)), which are set to significantly improve the experience of of African travelers. Adedeji noted that the functionality of the new website allows users to select multiple products and check out under a single ticket.
Discussing the inspiration behind integrating AI, fintech and accommodation bookings into their offerings, Adedeji said: “As we continue to lead in Africa, our success pales in comparison to the opportunity before us. The opportunity before us is greater than we show and we have taken advantage of it.
“Today, what we want to talk about are those opportunities, and our work right now is positioned to take advantage of those opportunities. I started thinking about more than air travel and said what happens on the other side of travel and tourism. Africans don’t camp and obviously we don’t cruise, but you know what we do? We stay in hotels and do package holidays. Africa is projected to spend around $3.8 billion on this segment alone by 2028.”
Adedeji added, “Hotels remain the largest segment of this business. The number of users in hotels is expected to increase. But do you know that there is no hotel player in Africa? If the customer books on a foreign platform, it means they are using a foreign portal. A foreign gateway means the money is funneled out of our system. We keep talking about hemorrhaging currency. that’s exactly how it happens.
“I firmly believe that only Africans can build Africa and innovation does not stop anywhere, it starts with us. We have created innovation that suits the African customer.”
Introducing the new Wakanow website
Ms. Adenike Macaulay, Managing Director of Wakanow Nigeria, emphasized that the primary objective of the new website is to create a more simplified and user-friendly interface.
He explained that their customers’ needs have evolved, requiring constant improvements to keep up with changing travel patterns. A major issue identified was time-consuming searches, especially as customers become more price sensitive. To address this, the new site features a fare calendar on the home page, allowing users to see different price points for various return dates at a glance.
Another challenge was international payment barriers. In response, Wakanow developed a modular cart system that streamlines the checkout process. Customers can now book multiple products, including flights, hotels, lounge access, visa assistance and airport transfers, all with a single booking ID. This unified checkout process simplifies and improves the user experience.
“So you can book your flight, add to cart. book your hotel, add to your cart. book your lounge if you’re traveling in economy class, you don’t have access to the lounge, you want it, add to cart. visa assistance, add to cart. you need airport pickup or delivery to your destination, add to cart and check out in a single checkout,” he said.
Wakanow, Rest of Africa (Roomde)
Managing Director of Wakanow, Rest of Africa, Ms. Sodie Osei-Bonsu, told TODAY that Wakanow’s Rest of Africa, also known as Roomde, aims to address accommodation challenges for travelers by offering a variety of options beyond hotels, such as apartments, short stays and other unique accommodations tailored to the needs of customers.
With nearly two million accommodation platforms from around the world, Roomde promises secure and simplified access to accommodation, taking into account the unique preferences of individual customers.
Bonsu said, “In many of these markets, we have a local presence, which makes it easier for us. We have people on the ground who can actually visit properties and do inspections. That’s the beauty of being a member of the Wakanow Group.
“It’s easy to have people verify that the properties being boarded up are legitimate. There is security in knowing that we operate in both English and French speaking areas. We have nearly two million properties, including hotels, around the world. Not only in Africa. We have direct contact with almost 10,000 hotels in Africa and the connectivity of our hotels gives us much more.”
Introducing the Kalabash 54
Kalabash54, a subsidiary of Wakanow Group, offers simplified payment solutions for customers. These include currency conversion capabilities, e-wallet, Mastercard Kalabash naira and dollars, and an international spend rewards program.
Mr. Ladi Ojuri, Managing Director of Kalabash 54, explained that these products are designed to serve modern customers on the go, eliminating liquidity concerns during their global travels. He highlighted the Kalabash app’s ability to facilitate long-term planning and savings, allowing travelers to pay in installments for flights, hotels or other expenses from 24 hours to six months.
“Our ‘pay small’ product enables payments in installments, which help travelers manage dynamic flight pricing,” said Ojuri. “Paying six months in advance ensures lower costs compared to booking closer to the travel date, when prices usually increase.”
He added, “We apply a service charge based on the selected installment duration, ranging from 0.5% to 10%. The longer duration option provides more value. Our currency conversion feature ensures seamless transactions worldwide. For example, customers can switch between currencies such as cedis and naira directly on our website, facilitating easy payment options.”
Ojuri said the company currently offers naira and dollar cards and plans to introduce a cedis card in Q4, noting that Wakanow’s platform supports multi-currency payments, enhancing flexibility for international transactions.