June2010 Ajala Press Release

8/9/2019 June2010 Ajala Press Release

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Ajala Travel Company 2010 ©

Ajala Press Release July 2010

CEO statement June

“The value proposition is simple,” Dayo reiterated this past month at the Festival of Africa TourismInvestor Conference in Johannesburg South Africa. “It might take a while for people to see. Ajala TV will create the African Tourist”: www.ajala.biz

CEO Statement July

“We are considering the move of our start-up operations to the new centre of Africa: South Africa. South Africa has the attention of the world and we see great opportunities in the emerging Tourism industry here, the fact that South Africa is the number one African Pay-TV market also has contributed to usmaking of this move. Most importantly however following our selection by African Investor Magazine asone 10 of the bankable Tourism projects at the 2010 Africa Investor Tourism Summit, we got theattention of a few funds based in South Africa, as such our move will bring us closer to these investorsand thus closer to securing investment for the Ajala TV project. This is in line with our strategy to becomea leading “African” tourism brand with the launch of the Ajala TV Network targeted at African armchair travellers in June 2011 and also to help us achieve our goal of achieving large entity status with our

media franchise and a successful listing on a leading African Stock exchange in 2013”

For updates visit www.facebook.com/ajalatravels

Nigerian Tourism Brand Ajala makes bold move to South Africa.

By Ahmed Adeyanju1 st July 2010

Lagos/Johannesburg The Ajala Travel Companies road to a thematic travel and tourism channelnow appears to be in Johannesburg South Africa, location of the Festival of Africa InvestmentSummit which held at Melrose Arch Johannesburg South Africa on the 24 th of June 2010. TheExecutives of the Ajala Travel Company were at the event to share their vision for a thematictravel channel for Africa with the leading Southern African Tourism Industry leaders inattendance including Sindiswa Nhlumayo Deputy Director General of Tourism Development,Department of Tourism, South Africa, Mr Kwaye Donkor, Marketing and CommunicationsDirector, Regional Tourism Organisation of Southern Africa (RETOSA). Digu Naobeb, Chief Executive Officer, Namibia Tourism Board and Christelle Grohmann Director Grant ThortonStrategic Solutions Tourism Hospitality and Leisure Services Practice.




The Executives of the Ajala Travel Company are currently visiting South Africa to conductresearch for a proposed move of the start-up operations of their media venture to South Africa.A source with the Ajala Travel Company said that “the move is in line with their strategy tobecome a leading “African” tourism brand with the launch of the Ajala TV Network targeted atAfrican armchair travellers in June 2011 and also to help them achieve their goal of a successfullisting on a leading African Stock exchange in 2013”.

In an phone interview with the Chief Executive of the Ajala Travel Company Dayo Osholowu hesaid “I would love to say that we currently in South Africa during the World Cup period only towatch the football but most importantly this trip has been to seriously research the move of our start-up operations to the new centre of Africa: South Africa. South Africa has the attentionof the world and we see great opportunities in the emerging tourism industry here, the fact

that South Africa is the number one African Pay-TV market also contributed to ourconsideration of this move. Most importantly however following our selection by AfricanInvestor Magazine as one 10 of the bankable Tourism projects at the 2010 Africa InvestorTourism Summit, we got the attention of a few funds based in Southern Africa, as such ourmove will bring us closer to investors and thus closer to securing investment for the Ajala TVproject.” Lastly he commented that the strength of the Intellectual Property law in South Africaallow us to leverage our Intellectual property and hence secure funding as the legal systems willenable us to fully exploit and protect all our intellectual property through the acquisition of formal property rights to create credible, verifiable, efficient and sustainable business models

and hence income streams

Most recently, African Investor magazine selected the Ajala Travel Company’s pitch for Ajala TVas one of the promising African tourism projects in Africa and invited CEO Dr Dayo Osholowu of The Ajala Travel Company to the 2010 Africa Investor Tourism Investment Summit to publiclypresent the project’s opportunities to investors. During his presentation he got the attention of investors by outlining that “We would develop the channel by exploiting our tourism industryknow-how, the Ajala trademark and brand, our existing network of tourism trade partners.”

Dr Dayo Osholowu has said Ajala TV would feature documentaries and shows related to traveland leisure around Africa and the world. Programming will included Travel shows, TravelDocumentaries, Travel related movies, tours of grand hotels, and visits to significant cities andtowns. It would face considerable competition from the African Travel Channel, The TravelChannel, BBC Travel and other existing travel channels showing across Africa. Dayo furtheroutlined that they would beat the competition by creating a channel that was targeted at theAfrican Tourist.




The Ajala Travel Company hopes its channel would function on the dual revenue stream of subscription and advertising revenue that other cable networks use, though its license fee

would be well below other lifestyle channels. The Ajala Travel Company sees a Pay-TV channelas critical to its future, believing that it will help establish the “Ajala” brand, create a newplatform for sponsors and generate new revenue. The success of the channel will also be acritical step in achieving the organizations vision of creating a media franchise that would bethe most recognized brand marketing and distributing tour packages all over Africa.

The Ajala Travel Company has targeted the summer of 2011 for a launch. It is being advised bya prominent Nigerian investment banker who is leading the charge for the development of Ajala TV. He is helping the Ajala Travel Company with introductions, financial models andstrategy on how partnerships might work. He is working with Ajala Chief Executive Officer DayoOsholowu.

Although there have been questions about how they intend to finance the proposed channelthe team at ajala have outline that: “We will work with our lawyers to discover creative capital,by forming venture partnerships to create equity capital and leverage our assets to secure debtfinancing. With these techniques, we will structure financing in the third quarter of 2010, andlaunch the Ajala TV development project. We will finance this venture through a mix of equityand debt. We aim to attract equity to provide about 25 to 30 percent of the funding and debt toprovide about 70 to 75 percent.”

Speaking in earlier this year at the opening ceremony of the Largest African TelevisionConference: DISCOP, Folarin Anifowoshe Chief Talent and Intellectual Property Officer of Ajalaremained confident about the quality of programming for the channel, saying the” travel andtourism related content is compelling content for the niche segment of arm-chair travellers andthis underscored the value of a travel channel. Let’s not forget the value we will create once wealso get the attention of advertisers interested in this demographic.”

“The value proposition is simple,” Dayo reiterated at the Festival of Africa Tourism InvestorConference. “It might take a while for people to see. Ajala TV will create the African Tourist”

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Documents

June2010 Ajala Press Release