News Column

Union Bank Partners Wakanow.com On N1 Billion Affiliate Lending

July 21, 2014

Helen Oji



UNION Bank of Nigeria Plc has entered into partnership with Wakanow.com, aimed at providing N1 billion to enhance the growth of Wakanow affiliate agents.

According to the bank, Wakanow.com is Nigeria's first and leading online travel company that provides customers with everything they needed for research, plan and purchase a trip locally and globally.

Wakanow.com offers travelers the cheapest available fares for flights, hotel reservations, airport pickups, visa assistance, vacation packages and many other travel services from a broad selection of partners. Established in 2008, Wakanow was founded as Nigeria's first online travel company to bridge the gap and inefficiencies in Nigeria's online travel space.

At the presentation of Union bank's offer, Kingsley Ulinfun, Head of Commercial Banking and Regional Executive said "that Union bank is excited about this partnership as it gives the bank an opportunity to work with growing businesses and expose the banks revamped services.

He explained that the partnership would enhance growth for the affiliates, Wakanow, as well as the bank.

The partnership, according to the bank was structured to provide funding to qualified agents and affiliates of Wakanow to improve business turnover and grow their margins. In addition, making funding more accessible to this market segment will lead to expansion of the travel industry as a whole.

To qualify for the partnership scheme, the existing Wakanow sub-agents and affiliates, must be a registered Nigerian company in existence for a minimum of two years with a monthly sales figure of N2 million and a clean credit bureau record. The bank also expressed its committed to the development of industries across the country, through partnerships, which facilitate economic empowerment across different segments of society.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: AllAfrica


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters