Wakanow, Ecobank partner to boost travel industry

Wakanow.com and Ecobank Nigeria Plc have entered into a strategic partnership towards unveiling a travel credit facility, which industry analysts say would transform travelling in Africas most populous country.The product, called, "Travel Now Pay Later", is a structured financing product, which allows Ecobank to grant its customers credit facilities solely for purchasing travel products offered by Wakanow.com.A statement signed by both companies on Friday noted that the credit facilities would cover products, such as flight tickets, hotel accommodation or holiday packages. The Managing Director, Wakanow, Mr. Obinna Ekezie, was quoted in the statement as saying that the product was developed to provide a convenient and an easy way for Nigerians to finance their travelling needs. "The beauty of the product is that it enables a Nigerian traveler to go to any destination at any time and defray the cost at his convenience", he said. The Deputy Managing Director, Wakanow, Mr. Ralph Tamuno, was quoted as saying that the other benefits of the facility include the opportunity of paying by installment, increased spending power and considerable cost saving, as there was no transaction cost. "You can save about 10 to 40 per cent of the actual airfare by booking early on our website," he said. He added that the partnership with the Ecobank was vital considering its spread as Pan African Bank and the recent acquisition of Oceanic Bank. We hope to leverage on their enormous spread expertise in consumer market to give impetus to the product, he said. The Executive Director, Domestic Bank, Ecobank, Mr. Kingsley Aigbokhaevbo, on his part, said Ecobank threw its weight behind the product because it was not only timely but also promised to radically change the travelling industry in a big way. He said Ecobank was quick to partner with Wakanow.com because of its credibility, proven track of performance and innovativeness, stressing that, "This is one Nigerian company that we are happy to be associated with."
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