The African iGaming industry is experiencing significant growth, as a recent report highlights. Over the past five years, gambling in the continent has witnessed a remarkable double increase, positioning Africa as the world’s fastest-growing market. The report reveals that more than 186 million people in Africa, over 16% of the population, engage in online gaming for entertainment.
Conducted by Carry1st and Newzoo, the research emphasizes the pivotal role of mobile devices in the substantial growth of the African gaming market. Approximately 95% of African gamers enjoy online games through their mobile devices.
This dominance of mobile gaming is expected to continue, with a projected compound annual growth rate of 9.4% for mobile gamers between 2020 and 2024. This growth also translates to the increasing number of players participating in real money gaming in South Africa especially. In 2021 alone, South Africa generated an impressive annual gaming revenue of $290 million. Other notable countries include Ghana, Nigeria, Kenya, and Ethiopia, showcasing the potential for further growth and economic improvement through investment in iGaming.
Cordel Robbin-Coker, CEO and Co-founder of Carry1st expresses strong optimism about the report, emphasizing that Africa is the future of gaming. The continent’s young population and dynamic online presence have contributed to the explosive growth of gaming, with a growing number of players willing to pay for their gaming experiences.
In conclusion, the findings of this report highlight Africa’s emerging position as a prominent player in the gaming industry. The continent’s substantial youth population, accessibility of affordable mobile devices, and improving internet connectivity have fueled the growth of its gaming sector. As the African gaming market continues to expand rapidly, it is expected to attract significant investments from prominent companies seeking to capitalize on its potential.