This partnership, according to the company, aims to streamline and simplify cross-border payments for Wakanow's customers throughout Africa, supporting the company's expansion into new African markets.
dLocal, a leading cross-border payment platform specialising in emerging markets, on Tuesday announced a strategic partnership with Wakanow Group.
This partnership, according to the company, aims to streamline and simplify cross-border payments for Wakanow's customers throughout Africa, supporting the company's expansion into new African markets.
Founded in 2008, Wakanow is a prominent online travel agency (OTA) based in Nigeria, widely recognised as one of the leading travel service providers in Africa.
"Currently valued at nearly $13 trillion, the global travel industry sees only 30 per cent of its bookings in Africa conducted online, considerably lower than the global average of 50 per cent. Wakanow is at the forefront of changing this dynamic in a market with significant growth potential," the company said in a statement.
This collaboration, according to the company, will allow Wakanow customers throughout Africa to pay in their local currencies or preferred payment methods.
It added that the partnership is set to broaden Wakanow's operational footprint across the continent, enhancing payment flexibility and accessibility for African travellers.
The statement explained that the partnership was facilitated by Wakanow's travel fintech subsidiary, Kalabash, dedicated to revolutionising the payment experience within the travel industry across Africa.
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"The partnership has already facilitated dLocal-powered payments in Cameroon, Ivory Coast, Senegal, and Tanzania, with further expansion plans, including South Africa, in the pipeline."
The Group Chief Executive Officer of Wakanow, Bayo Adedeji, said: "When we sought a payment solution that could handle the complexities of African travel markets, dLocal was a clear choice."
"Their strong presence and expertise within the continent, alongside their scalable solutions, made them an ideal partner. We are eager to accelerate our growth with the support of dLocal's robust platform and team," he said.
Ladi Ojuri, chief executive officer of Kalabash, said: "This partnership marks a pivotal moment for Kalabash as we enhance our capabilities to serve not only the Nigerian market but the broader African market with cutting-edge payment solutions.
"Working with dLocal enables us to offer a more seamless and efficient transaction experience, which is fundamental as we push the boundaries of what is possible in travel finance and tech."
Agustin Botta, head of EMEA from dLocal, said the partnership with the Wakanow Group presents an exciting opportunity.
"As Wakanow continues to dominate the travel industry in Africa, and particularly Nigeria, our collaboration will serve as a pivotal bridge between the continent and the global economy.
"Offering local payment options not only simplifies transactions but also makes global travel more accessible and convenient for millions across Africa, enhancing the customer experience and opening up new markets for business."
