LAGOS- Union Bank of Nigeria (UBN) Plc on Friday sealed a partnership venture agreement with Wakanow.com for N1 billion facility for Wakanow affiliate agents.
The agreement was contained in a statement issued by the bank and obtained by the News Agency of Nigeria (NAN) in Lagos.
Wakanow.com is Nigeria’s first and leading online travel company that provides diverse services for customers that need to research, plan and pay for trips locally and globally.
It offers travellers 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.
Mr Kingsley Ulinfun, Head of Commercial Banking and Regional Executive of the bank, said that the partnership would give the bank an opportunity to work with growing businesses.
Ulinfun said that the partnership would also expose the bank’s revamped services.
“The partnership is structured to provide funding to qualified agents and affiliates of Wakanow to improve business turnover and grow their margins,” he said.
Ulinfun said that the partnership would make funding more accessible and would lead to expansion of the travel industry.
He said that to qualify for the partnership scheme the existing Wakanow sub-agents and affiliates must be a registered Nigerian company.
According to him, the company must have been in existence for a minimum of two years with a monthly sales figure of N2 million and a clean credit bureau record.
He said that the bank was committed to the development of industries across the country, through partnerships to facilitate economic empowerment across different segments of society.
Wakanow was established in 2008 to bridge the gap and inefficiencies in Nigeria’s online travel sub-sector. (NAN)