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Wakanow Set to Launch Commercial Operation in UK

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  • Wakanow Set to Launch Commercial Operation in UK

One of Nigeria’s online travel companies, Wakanow has announced plans to formally launch commercial operations in the UK as part of its efforts for global expansion and in a bid to consolidate its foray into Europe.

The announcement is coming barely months after it launched DestinationsAfrica, a global booking platform that aggregates the best of African packaged holidays from over 23 African countries.

Wakanow, which already operates commercial offices in Nigeria and Ghana as well as service outlets in Dubai and the UK said it will launch its office in the UK, showcasing a cutting-edge booking portal that will offer flights and hotel bookings and Transfers/Protocol services, for intra-Europe travel as well as for outbound travel into Africa.

The company said the UK booking portal will ride on the crest of its well-tested innovative technologies and service excellence to extend the traditional African warm welcome to millions of travelers looking for efficient and well-priced travel packages into and around Africa and Europe.

Founder and Group Managing Director of Wakanow, Mr. Obinna Ekezie, said the new addition to the fast-growing travel brand would allow the company to serve the European markets and demonstrate its capacity to compete favorably on the global stage.

He explained that currently, a good number of bookings on the Wakanow Nigeria booking portal, were coming from the UK and other countries outside of Nigeria and it was therefore a natural progression for Wakanow to cater for this market.

In his words, “We are very delighted about the forthcoming launch of Wakanow UK, and this excitement stems from our conviction that this addition has the capacity to offer something different to the European market when it comes to travelling into Africa. Our protocol services into Africa is built on very strong relationships and will ensure our prospective customers get the most hitch-free and hassle-free movement in and out of the continent. Wakanow has horned her skills in African travel over the last 8 years and will bring that to bear in not only offering best priced deals but making sure that her interactions with these travelers will deliver a more positive narrative for African businesses.”

He further stated that, “Not only are we going to replicate the same excellent customer service for which the Wakanow brand is known for, but we are also going to take the lead in expanding the frontiers of travel and driving significant traffic to Africa through our broad mix of custom-fit and themed vacation offerings available on our DestinationsAfrica platform. We will leverage our vast knowledge of the African space and her wealth of untapped destinations to create exclusive travel products that offer fresh and incredible experiences for our customers.”

He added, “The Wakanow UK launch will herald the opening of several other Wakanow offices across Africa, with Wakanow Kenya and Wakanow SouthAfrica already under way. Riding on the back of advanced technology, Wakanow will “switch on” her online booking portals in 6 other African countries including Uganda, Rwanda, Senegal, Ivory Coast and Tanzania. Other countries include Dubai and the US. Wakanow is a rising star on the African Tourism scene and Nigeria’s number one travel booking company.

“Wakanow has won many awards including the TonyElumelu’s fastest rising company awards, a host of Industry led Awards and more recently, the CNBC Business Leader of the Year award which went to the Founder and Managing Director, Mr. Obinna Ekezie. Wakanow has strong affiliations with hundreds of Hotels and Airlines globally and has facilitated over 800,000 travel bookings since inception in 2008. Leveraging heavily on technology and accelerated customer service models, Wakanow is rapidly changing the face of travel in Africa.”

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

Social Media

Meta Celebrates As Threads Platform Records 275m Active Users Monthly

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Meta’s social networking platform, Threads has recorded a whopping 275 million monthly active users.

The platform, in its bid to rub shoulders with X (formerly Twitter), described the feat as a milestone and closure to its competitive dream.

Adam Mosseri, Head of Threads and Instagram, made this known while expressing gratitude to users and acknowledging areas for improvement on the platform.

Recounting how Threads has been faring in the social media market since it was launched by Meta in July 2023 as a competitor to X, Mosseri submitted that a whole lot of transformation has taken place.

He explained how the platform achieved impressive sign-ups, reaching 100 million users in less than a week, saying engagements have been rising ever since.

Recalling how Meta’s CEO Mark Zuckerberg reassured investors in April that Threads’ user growth was on track with his expectations, Head of Threads Instagram expressed optimism that the platform’s users would increase in months to come.

Zuckerberg also noted that the open internet server is a key feature in Threads and that it has contributed in making users accept the platform.

It would be recalled that in the months following its launch, Meta added various features to enhance the platform and address user needs.

The platform also got attracted to users through its concentration on integrating with ActivityPub and the decentralized protocol powering networks like Mastodon.

Investors King reports that Nigerians, known for their enthusiasm in embracing new ideas, especially those related to money and influence, are no exception to the increasing number of Threads’ active users.

Some of Nigerian users of the social media app have highlighted enhanced communication, creative expressions that the app’s features provide, opportunity for businesses and influencers to thrive, and empowerment of voices as merits of the platform which have contributed in endearing the app to more users across the globe.

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E-commerce

Nigerians To Enjoy 85% Discount On Groceries, Phones, Home Appliances, Others As Konga Begins Yakata Black Friday Sale

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Konga

Consumers in Nigeria now have opportunity to get 85 percent discount on products of their choice in this year’s yuletide as Konga, Nigeria’s leading e-commerce group, has officially commenced its highly anticipated annual Konga Yakata Black Friday sale.

The offer that was launched on Friday, November 1st, will run through November 30th, 2024.

The Konga Yakata Black Friday campaign is a unique opportunity for Nigerian consumers to access premium products at unbeatable prices, while also benefiting from Konga’s trusted logistics and payment solutions. Shoppers are encouraged to visit Konga.com to take advantage of these exceptional offers throughout November.

According to the management of the firm, this year’s Yakata sale brings unbeatable offers across all Konga subsidiaries, including Konga Online, Konga Retail, KongaPay, Konga Travel and Tours, Konga Health, and Konga Logistics.

Touted as the “Biggest Sale of the Year,” Konga Yakata Black Friday offers consumers the opportunity to enjoy up to 85% discount on a wide range of products across categories, including groceries, phones and accessories, home appliances, fashion, and beauty.

It is believed that the sale campaign will usher significant relief to shoppers as Konga moves to cushion the effect of the nation’s harsh economic realities.

As a trusted and authorized retailer of leading Original Equipment Manufacturers (OEMs), Konga provides shoppers with unmatched access to genuine products from renowned brands such as Starlink, L’Oreal, Apple, Samsung, Philips, Zinox, Nokia, Hisense, Oppo, Infinix, Lenovo, and HP.

It further asked consumers to expect not only the convenience of authentic goods but also a distinct pricing advantage on these premium brands.

The Yakata campaign also supports Nigerian small and medium-scale enterprises (SMEs) by driving consumer demand through nationwide awareness and promoting e-commerce adoption.

It indicated that Konga has invested significantly in creating awareness for Yakata, enabling more Nigerians to leverage online shopping for their essential needs and lifestyle desires.

For this year’s offer, the deals do not end on Konga.com alone as Konga, through its subsidiaries, provides exclusive deals to customers during the Yakata period:

Konga Travel and Tours affiliates and top clients were asked to watch out for perks including free weekend hotel accommodations, and a zero-service charge for corporate clients who book travel during the Yakata campaign.

Konga Health is offering exciting discounts on renowned brands like CeraVe and on your favourite beauty and health products. Customers can also use your favourite Konga Health influencer’s voucher code to unlock even more exclusive deals and freebies! Stay tuned to Konga Health’s social media pages for the latest updates and announcements.

KongaPay is offering shoppers who use KongaPay for purchases on Konga.com will receive a 10% discount, with additional benefits like 10% off on bill payments including electricity, cable TV, and data.

It added that users who maintain a savings balance of at least NGN50,000 are eligible for a 15% annual interest rate. As part of a special promotion, shoppers who use KongaPay also stand a chance to win cash prizes in a 100k giveaway. To qualify, customers simply need to download the KongaPay app and create an account in minutes.

Assuring customers of a seamless delivery system, Konga Logistics noted that it offers delivery at competitive, discounted rates. Konga Logistics assured that a seamless shopping experience with reliable and affordable delivery options for all purchases made during the Yakata season.

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Telecommunications

MTN Nigeria Strengthens Working Capital By Raising N50bn In New Commercial Paper

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MTN

MTN Nigeria Communications PLC (MTN Nigeria) has disclosed plans to raise N50 billion through its latest issuance of commercial paper (CP) to boost its working capital.

The plan is under N250 billion Commercial Paper Issuance Programme.

Not only that this Series 11 and 12 CP issuance is expected to strengthen MTN Nigeria’s short-term working capital, it will also diversify its financing base.

A notification to the Nigerian Exchange Limited and the investing public further revealed that this proposed issuance is part of MTN Nigeria’s ongoing strategy to tap the debt market as a flexible funding source to meet immediate financial needs.

It builds upon the company’s series of CP issuances in the past year as it pursues a robust approach to balance its capital structure.

The funds are expected to support the company’s operational and growth requirements as it seeks to expand its infrastructure, improve service delivery, and cater to the increasing demand for telecommunications and digital services across Nigeria.

MTN’s financial statement as of September 2024 suggests it has negative working capital of about N1.49 trillion

The cash flow is necessary in order to enable the company meet cash flow demands and service short-term debt without over-relying on long-term financing

This approach provides financial flexibility, allowing MTN Nigeria to manage interest costs and adjust its debt profile in line with operational cash flow, which is critical for a company with significant external loans.

The issuance also serves the broader purpose of diversifying MTN Nigeria’s financing sources, reducing reliance on bank loans, and maintaining a balance between short- and long-term debt.

This financial strategy not only enhances MTN’s liquidity but also positions it to better withstand the economic challenges in Nigeria’s volatile business environment.

While the company has yet to disclose specific terms of the Series 11 and 12 notes, further details are expected to be shared in the coming weeks.

 

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