Popular igaming payment method in Africa – MOBILE MONEY

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Overview

Mobile Money is an electronic wallet service that allows you to store, send and receive money using your mobile phone. The key requirement is to have a telecommunication provider Simcard, for Africa main providers are MTN Group, Airtel, Safaricom, and Vodafone.

As Mobile numbers are a key requirement to opening an igaming account for punters to place bets/ play online casinos this paved way for integrations to be made into gaming and betting online platforms where punters can easily deposit money into their accounts with a few clicks from the mobile phones and also be able to withdraw their winnings straight to their mobile wallets.

Our Blog will highlight the role of mobile money services in the practice of gambling in general in Africa and another key must-know about the payment service (Mobile Money).

Mobile money is one of the best things to happen to Africa – For a continent where the habit of banking is growing but not at a pace that catalyzes fast development, mobile money revolutionized the handling of money for paying for products & services and embracing many industries including the gaming & betting industry too across all gaming markets in Africa.

 Before Mobile money, it was simply the physical betting outlets and online banking cards that didn’t really sit well with the majority of the clientele base that betting in Africa targeted. After its introduction, the industry couldn’t be rivaled by the amount of money that was moving through its systems on a daily basis. What spurred the phenomenon, even more, was the rapid growth of both mobile and internet penetration across many countries. The spread of Chinese-made cheap smartphones also ensured that everything was accomplished with simply a few clicks which paved largely the growth of online sports betting & gaming.

General Highlights

  • Sub-Saharan Africa is home to more mobile money users than any other region in the world, with over 200 million active mobile money users by the end of 2021. This represents around half of the global total active accounts.
  • Value of Mobile money transactions in Sub-Saharan Africa – 697.7bn USD
  • Registered Mobile money accounts in East Africa as of 2021 – 296M
  • Value of mobile money transactions in East Africa – 403.bn USD
  • Leading service providers: MTN mobile money subscribers as of Sept 2021- 51.1M  and Mpesa (Safaricom) subscribers as of 2022 – 52M

Mobile money is undergoing rapid growth in Africa, driven by improved access to technology, difficulties accessing traditional financial services, and an increase in contactless payments related to the coronavirus (COVID-19) pandemic.

For those with no access to banking services, mobile money provides financial inclusion, a way to participate in the economy without a bank account. This has led to a boom in the use of mobile money in Africa, one of the most underbanked regions in the world. In 2019, 200 million users made 24.46 billion mobile money transactions in Sub-Saharan Africa and the Middle East, and Northern Africa, accounting for 64.15 of all transactions made worldwide. Of the 690.1 billion U.S. dollars in mobile money transactions made in 2019, 456.3 billion U.S. dollars were exchanged in Sub-Saharan Africa.

Mobile money has become a big business for telecommunication providers in Africa. Approximately 144 mobile money providers operate in Sub-Saharan Africa, with two companies such as M-Pesa, MTN, and Orange Money accounting for a significant share of the market.

M-Pesa, managed by Vodafone and Safaricom and operating in seven countries, has seen significant growth in recent years. The service attracted an additional 12 million users from 2017 to 2020, reaching 41.5 million users by 2020. M-Pesa users made 12.2 billion transactions in 2020, generating 784.36 million U.S. dollars in revenue for parent company Safaricom. MoMo – MTN Group’s mobile money offering – has enjoyed similar growth – reaching 35.1 million active customers in March 2020.

The effect of under banking on the use of mobile money can be seen in Southern Africa, where banking services are easier to access. Mobile money has gained less of a foothold in that region, suggesting that unless another solution to financial exclusion in parts of Africa is discovered, the use of mobile money in Africa is set to grow even better in the future.

Mobile money accounts in Africa by region 2021 (in millions)

CharacteristicRegistered accountsActive accounts
East Africa296102
West Africa23758
Central Africa6019
Southern Africa134
North Africa151

Conclusion:  Mobile Money is a must-have payment gateway for any gaming or sports betting operator wishing to expand its operations into Africa

By Najib Balinda attributed to Statista.

Ghana a rising star igaming market in Africa

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Ghana is a country in West Africa, it abuts the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Ivory Coast in the west, Burkina Faso in the north, and Togo in the East. With spanning diverse biomes that range from coastal savannas to tropical rainforests, Ghana is the second-most populous country in West Africa, after Nigeria with a population of over 32 million.

While it may not be the biggest nation in Africa, the country is definitely flexing its muscles in the online gambling world. Not only is Ghana considered amongst the top gambling markets on the continent, but the West African nation has also been getting plenty of love from international observers. The top order of online betting in sub-Saharan Africa is pretty much set, with South Africa, Nigeria, and Kenya leading the way, but Ghana has arguably become the best of the rest and is knocking furiously at the doors of the bigger boys.

By comparison, South African and Kenyan population figures are hovering around the 60 million mark, while Nigeria towers above everyone else with its 200 million plus people.

The Big 3 may hold the bragging rights for now, in terms of positions, but Ghana is constantly chipping away. Ghana sent a strong message of intent in November 2022, when it managed to lure global giant, bet365 into the country. Bet365 is the biggest betting site in the world. They are present in many nations and continents, across Europe and the Americas, but their entry into Ghana was their first official foray into Africa.

“It was our preferred location for our first launch into Africa, as one of the most highly regulated, and highly regarded betting markets on the continent”, a bet365 official said in a glowing endorsement of Ghana’s gambling industry.

The Gaming Commission of Ghana an Agency under the Ministry of the Interior that’s in charge of regulating and controlling the industry has endured plenty of criticism during its nearly two decades of existence, but this is surely a major feather in its cap.

Bet365 follows in the footsteps of many top betting players to launch in Ghana, with Betway, 1xBet, 22Bet, Bet-king, Betika, Mozzartbet, Odibets, and more all registered and licensed in the country. As pointed out in the bet365 statement, Ghana’s regulated gambling space has been a major attraction for these big betting players, but that is not the only thing that has been pulling them into the country. Ghana has a strong sporting tradition. It is one of the top football nations in Africa, with multiple AFCON successes and appearances at the World Cup. This sets a natural foundation for sports betting.

Over the last few years, that foundation has been built upon to become the big structure it is today. The rate of sports betting has been boosted by several factors. Technology has played a major role, with mobile penetration and internet accessibility constantly on the rise.

Perhaps, the most important catalyst has been the advent of mobile money, which has significantly improved financial inclusion in Ghana, making it super easy for Ghanaians in all spheres of life to pay for goods and services over their mobile phones. Ghana is a mobile money force not only in Africa but also in the world. All of these have combined to make Ghana a truly attractive prospect for the biggest bookmakers in the world.

Let us know if you are interested in a full market report about Ghana, Our reports will give you highlights about;

  • Market Overview – Estimated market size, main players, their estimated market shares, models of operations, and products
  • Regulatory frameworks
  • License requirements and costs
  • Barriers to entry
  • Double trade agreements (DTAs)
  • Taxation framework
  • Repatriation of funds policy
  • Advertisement and Marketing regulations etc.

Additionally, let us know in the comment section which country in Africa you would love to learn about next.

 

Ugandan government plans to increase gaming tax by 10%

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The Ministry of Finance proposed a 10 percent increase in gaming and lotteries tax. The proposals are contained in the Lotteries and Gaming (Amendment) Bill, 2023 which seeks to amend a number of provisions under the Lotteries and Gaming Act, 2016.

The amendments, signed by Finance Minister Matia Kasaija seek to increase the tax rate on gaming activities from 20 percent to 30 percent.

Key reasons that were given;

  • Ugandan bettors lose millions to illegal gaming sites
  • Gaming operators under-declare revenue by half-audit

The Bill if passed, will have a significant impact on the gaming industry but is expected to generate more revenue. It is expected to take effect on July 1.

The gaming industry in Uganda has expanded rapidly in recent years, owing in part to the growing popularity of sports betting and online gambling.

According to the Uganda Revenue Authority (URA) annual revenue performance report for the 2021/22 financial year, there was a surplus in tax collected from casinos, which resulted in a significant increase in revenue attributed to gaming tax arrears recovery amounting to Shs35.65b.

This growth resulted in a surplus of Shs22.67b and was caused by compliance enforcement actions that made taxpayers file and make payments, as opposed to prior periods when some taxpayers would only make estimated payments.

URA also indicated that Shs53.68b was collected, increasing by 303.41 percent, the highest percentage increase in tax heads in the last financial year, followed by rental income tax, which increased by 33.15 percent from Shs156.1b.  However, some critics argue that the gaming industry has negative social and economic consequences, particularly for vulnerable populations.

Proponents of an increase in game tax argue that the increase will help to mitigate some of the negative effects by providing additional funds for social programs and initiatives. However, some stakeholders argue the increment will harm the gaming industry and is likely to discourage investors.

The lotteries and gaming industry is expected to expand further in the coming years, owing to increased access to mobile technology and rising disposable income levels among the country’s population.

 

The Impact of 2022 World Cup to the African Sports betting industry

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Five African nations are competing in the 2022 FIFA World Cup and it is anticipated that an incredible 86% of the continents’ population in Sub-Sahara alone will be tuning into the matches, a new Geo poll study says. Sports-mad Africans from all other states in Africa are no exception too. Africa is home to world-class athletic champions, Safari Rally enthusiasts, and rising international rugby, football, tennis and other key games players.

Football is the most popular spectator sport in the continent which is why it’s an up rapid bets seasons for all sports-books in Africa just as it is for the rest of the world and mostly the US. That being said it’s key for most African sports-books to have aligned their offerings for the tournament to best suit the needs of most bettors mostly by plugging in the best CRM solutions to help them acquire more new bettors, awakening dormant ones and retaining existing ones, which is why all of us at SCCG management would like to re-emphasize reaching out to our partner client “https://symplify.com/“   if you haven’t already to make sure you don’t miss out on the juice.

Additionally, they’re key highlights to see out on this magnificent 2022 World cup as it’s unique in so many ways;

  • Senegal one of African football giants in the football arena is among the second group of teams to play on the 21st November after the opening by Qatar on the 20th which most likely will keep all Africans excitement for the tournament at the best high as a win is likely inevitable.
  • It will be the last World Cup to feature 32 teams before it’s expanded to 48 teams in 2026.
  • First time the tournament has been held in the Middle East – Qatar making it easier for many Africans to attend the tournament as Qatar is visa free to so many African nations.
  • First time the tournament to be held during winter season for most European countries and the UK making it a perfect time to explore the gaming industry before or after the tournament.

Unlike all other previous World cups this one has come in a time when most African countries’s internet and mobile phone penetration are at their best high following the over 24 months lockdowns during covid-19 pandemic paving way for more bets to be placed across the continent than before.

Football makes up a huge proportion of the international online sports betting market, especially in European nations like Germany, France, Italy, Spain, and the UK. In fact, up to 90% of all sports wagers in the UK are placed on football. In Europe, even the most casual football fan will place a bet on the World Cup so will in Africa.

According to Sportradar one of the world’s leading sports data providers, bets on the World Cup totaled approximately €136 billion in 2018. The UK alone experienced a 50% upsurge in gambling activities from the 2014 World Cup to the 2018 World Cup. In fact, each game in 2018 experienced an average betting turnover worth €2.1 billion.  This year, that number is likely to be absolutely smashed as this is the first opportunity for American football fans to bet online, following the supreme Courts 2018 ruling that legalized sports betting. Plus, with “soccer” now more popular than ever in the States, we could see an all-time record which growth are largely expected to double across the African continent as well interms of bets turnover making the continent the new kid on the block to explore.

Conclusion: Reach out to us if you’re a sportsbook looking to expand or explore the African sports betting industry and we vanish you with feasibility market reports about any African market, assistance with license application & acquisition, partnerships or any other key needs in the African gaming industry.

By Najib Balinda

Nigeria introduces new gaming license for non-domiciled operators

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Nigeria is set to introduce a new remote operator permit for offshore-licensed operators, allowing businesses to offer online gambling in Nigeria without a local presence. Businesses will be eligible for a remote operator permit if they already hold a licence in another jurisdiction and wish to offer their services to Nigerian players.It will allow operators to offer casino games, bingo, slots, sports betting and poker.

While this looks great for the non-domiciled operators will the locally licensed operators find this new permit fair to their businesses?

Are the stipulated fees for acquisition of this permit realistic or rather wayward?

See below key highlights while we shall plan to setup an online panel to hear thoughts of different top level gaming Professional’s views on this new move – Panelists will include our Co-founder Stephen Crystal among other top names in the industry we shall share soon!

Key Highlights

The permit will be valid for five years. Operators will pay an initial $100,000 to receive the permit, followed by fees of $50,000 in each of the next four years. The Nigerian National Lottery Regulatory Commission will issue terms and conditions which permit-holders must adhere to.

Holders of the new permit will be allowed to offer their services in Nigeria and to advertise within the country in print media or via affiliate programmes.

Key to the new regime will be an updated tax collection system, powered by UK-based fintech company E-Technologies Global Limited’s Sentinal product. This will allow payment providers to deduct taxes at the point of transaction and remit funds immediately to the Treasury.

Mohammad Nami, executive chairman of the Federal Inland Revenue Service of Nigeria, said the new system was an important way to boost tax revenues at a time when this was a major priority for governments everywhere.

“The world is entering a challenging time where there is a strong obligation on governments to increase tax revenue as a percentage of GDP so as to provide much needed funding for local infrastructure and public services.

“Nigeria needs to innovate and harness technology to ensure that online transactions are taxed and accounted for.

“We have been very impressed with the Sentinal system which allows us to not only collect tax revenues at source, but also provides us with tax reporting and monitoring tools in real-time. The system will integrate with our own TaxPro Max portal.”

Lanre Gbajabiamila, director general of the National Lottery Regulatory Commission of Nigeria, said that the country would welcome any offshore operators that pass its screening process.

“Online gaming continues to grow rapidly in Nigeria, particularly on mobile, and the adoption of E-Technologies’ Sentinal National Payment Gateway is a huge step to allow us to capture gaming duty at source,” he said.

“We are welcoming all responsible offshore gaming operators to apply for a remote operator permit as long as they pass all the relevant criteria including full AML screening and responsible gaming practices.

“We are proud to be the first country to adopt the Sentinal system and we believe it will bring a real national benefit to Nigeria.”

E-Technologies’ CEO, David Kicks, said the deal was a major step in the increased expansion of the regulated sector at the expense of grey markets.

“This landmark deal will herald a new era in rapidly opening new regulated markets for responsible gaming operators, as grey market operating becomes increasingly problematic,” he said.

By Najib Balinda, sourced from the Nigerian National Lottery Regulatory Commission.

A look into Zimbabwe’s gaming industry

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In Zimbabwe, gambling has conventionally always been frowned upon as a social vice and vanity. Where it occurred, it was limited to the state lottery, horse betting and an odd casino.

Now, the tide has shifted. Sports betting shops, casinos and lottery gaming are cropping up rapidly in the country’s major urban centres as punters strive to make an extra coin and satisfy a growing appetite for gaming and gambling. Activity usually peaks when the football leagues around the world start.

Driven by rising poverty and unemployment levels currently estimated at 5.4% by the International Labour Organisation, many ordinary citizens, especially the youth because of being un-employed are increasingly turning to gambling.

Zimbabwe’s economy is in a fragile state with an unsustainably high external debt of around US$9.9 billion. This has led to a massive death of industries and high levels of self employment, capped in part by chronic liquidity challenges, structural bottlenecks that include power shortages, an infrastructure deficit and a constrained fiscal space.

“The industry has evolved with the advent of various players coming on board and offering diverse products, not necessarily related to thoroughbred horse racing. Products such as sports betting have begun trending. Other establishments have also introduced lotteries, scratch cards and limited pay-out machines outside the confines of traditional casino settings,”

Most of Zimbabwe’s major towns now have gambling businesses, with the capital Harare being the main hub. Most resort hotels also have casinos which are popular with tourists. The Lotteries and Gambling Board is the country’s regulatory body responsible for controlling and monitoring operations of the gambling industry through the Lotteries and Gaming Act which came into operation in 2000. The board also issues licenses to gaming operators.

Social commentators say gambling has its good and bad side. Edmos Mtetwa, a lecturer at the School of Social Work in Harare, sees the increasing rate of gambling as a social disease, motivated by economic reasons.

“Gambling became more rampant during the difficult years that preceded the introduction of the multiple currency system in Zimbabwe in 2009. It has now become a source or an additional source of livelihood for many,” he says.

Mr. Mtetwa, however, does not think gambling will provide solutions to socio-economic problems. “It will not alleviate poverty but instead swindle punters of hard-earned cash in addition to breeding a generation of young people who do not know right from wrong.”

Labour economist Godfrey Kanyenze says gambling has always been practised in the country but has grown in the recent past due to economic desperation and people trying to leverage for some income.

“People are under pressure from a non-performing economy so they are looking for quick wins because ordinary mechanisms for acquiring assets are limited,” noted Mr. Kanyenze, adding that the scale of gambling would lessen if the economy improved.

But Mr. Mhembere argues that socially, gambling is a form of recreation that can be lucrative to punters. “Social demand for gambling has improved with the advent of sports betting as the youth can now infuse their sporting interests with gaming interests. Economically, big bets laid on big events have the propensity to generate huge incomes for the entities involved,” he says.

With a combined population of over a billion people, many of whom are poor, gambling is becoming a popular activity in Africa. Legal casinos are known to operate in many countries among them Morocco, Tunisia, Ghana,Uganda, Liberia, Nigeria, Gambia, Gabon, Rwanda, Kenya, Tanzania, South Africa and Botswana. But while the gambling industry in Zimbabwe is experiencing phenomenal growth, it contrasts with developments elsewhere in Africa where the industry is reportedly moderating.

Conclusion

Zimbabwe is ready for business

SCCG and Genius Gaming Consult Enter into Business Development Partnership for Africa

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Stephen Crystal, Founder and CEO of SCCG Management announced a business development partnership with Genius Gaming Consult of Kampala, Uganda, for the gaming market in Africa.

SCCG and Genius Gaming Consult enter into business development partnership for Africa

Crystal said of the announcement,

“We are extremely proud to be partnering with Mr. Najib Balinda, Genius Gaming’s Chief Business Development Officer – Africa, and their extended team. This group of seasoned gaming executives was a perfect fit for SCCG, both in terms of culture and vision, as we seek to build and extend the successes of the Casino Gaming, iGaming and Sports Wagering sectors within Africa. With a market whose revenue is expected to grow from USD 3B today, to USD 5B by 2030, largely concentrated in South Africa, we see tremendous opportunity for government regulated industry growth throughout the continent.”

With the collaboration of SCCG Management and Genius Gaming Consult, focusing on the growth and extension of regulated Gaming and iGaming for Africa at the B2B level, we are able to provide tremendous value to operators and suppliers who share this vision. Our ability to deploy turnkey services regionally, allow us to immediately add value to our business partners, including:

  • Feasibility Market Reports and Business Plans
  • License Application and Acquisition Support
  • Business Development and Management
  • Talent Acquisition and Placement
  • B2B Partnership Development and Negotiation
  • Due Diligence and Regulatory Reviews
  • Marketing and Advertising Support

This very special partnership between SCCG Management and Genius Gaming Consult allow us to bring the very best capabilities with respect to operations, systems, technology, platforms and content into Africa’s fast growing, high value Casino and iGaming markets.

ABOUT GENIUS GAMING CONSULT

Genius gaming consult (GGC) is a consulting firm servicing the gaming/gambling industry across Africa.Our services primarily include feasibility market report, B2B/B2C business development & management, operations setup/expansion, partnership setups, marketing and advertisement, license application and acquisition to sports betting, Casinos, Lotteries, Bingo & Esports operators, software & sports data providers, Slot machine manufacturers & service providers, investors, regulatory bodies and governments.

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About SCCG Management

SCCG specializes in sports betting and data, developing worldwide brands, representation before governmental agencies for complex regulatory matters, intellectual property, and strategic business development within international, land-based casinos, internet gambling, gaming, esports, and entertainment markets.

https://sccgmanagement.com

Contact

Stephen A. Crystal

Mobile/WhatsApp: +1 702-427-9354

Email: Stephen.Crystal@sccgmanagement.com

Social Media: https://www.linkedin.com/company/sccg-management

SCCG and Uganda’s Genius Gaming Consult sign Africa-oriented business development partnership

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Gaming and sports betting consultancy SCCG Management announced Monday a business development partnership with Genius Gaming Consult of Kampala, Uganda, for the gaming market in Africa.

Confirming the news, Stephen Crystal, Founder and CEO of SCCG, said: “We are extremely proud to be partnering with Mr. Najib Balinda, Genius Gaming’s Chief Business Development Officer – Africa, and their extended team. This group of seasoned gaming executives was a perfect fit for SCCG, both in terms of culture and vision, as we seek to build and extend the successes of the Casino Gaming, iGaming, and Sports Wagering sectors within Africa.”

Crystal cited projections that argue the African market, largely concentrated in South Africa, could grow from $3 billion today to $5 billion by 2030. “We see tremendous opportunity for government-regulated industry growth throughout the continent,” SCCG’s CEO added.

Through the collaboration of SCCG Management and Genius Gaming Consult, focusing on the growth and extension of regulated Gaming and iGaming for Africa at the B2B level, both parties would be able to provide “value” to operators and suppliers who “share this vision.” SCCG’s ability to deploy turnkey services regionally also allows it to “immediately add value” to business partners.

This includes areas such as feasibility market reports and business plans; license application and acquisition support; business development and management; talent acquisition and placement; B2B partnership development and negotiation; due diligence and regulatory reviews; marketing and advertising support.

“This very special partnership between SCCG Management and Genius Gaming Consult allows us to bring the very best capabilities with respect to operations, systems, technology, platforms, and content into Africa’s fast growing, high-value Casino and iGaming markets,” the parties concluded.

SCCG Management partners with Genius Gaming Consult for African gaming market

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The focus of the partnership will be to grow and expand regulated gaming at the B2B level in Africa.

A business development partnership between SCCG Management and Genius Gaming Consult (GGC) will look to develop iGaming in Africa. With B2B expansion and growth, SCCG will provide GGC with turnkey services and a plethora of options.

Steven Crystal is the Founder and CEO of SCCG Management, Crystal said: “We are extremely proud to be partnering with Mr. Najib Balinda, Genius Gaming’s Chief Business Development Officer – Africa, and their extended team.”

He continued: “This group of seasoned gaming executives was a perfect fit for SCCG, both in terms of culture and vision, as we seek to build and extend the successes of the Casino Gaming, iGaming and Sports Wagering sectors within Africa.”

Genius Gaming Consult is a consulting firm that services the gaming/gambling industry across Africa. The company’s primary services include feasibility market report; B2B/B2C business development & management; operations setup/expansion and partnership setups.

The company also deals in license application and acquisition to sports betting, casinos and lotteries.

SGGC will provide Genius Gaming Consult with services such as talent acquisition and placement, marketing and advertising support, and more.

Crystal went on to say: “With a market whose revenue is expected to grow from $3bn today to $5bn by 2030, largely concentrated in South Africa, we see tremendous opportunity for government regulated industry growth throughout the continent.”

In April of 2022, GGC announced another partnership with 888 Holdings. Named 888Africa, the new operator will launch four regulated markets on the continent. Christopher Coyne will serve as 888Africa’s CEO. He was formerly with the Stars Group.

Coyne said: “We are delighted to launch alongside 888. Partnering with 888 will give us access to a world-class brand, as well as a broad team of experts to support our growth plans, further enhancing our confidence in our future prospects.”

888 Holdings Chief Executive Itai Pazner added: “We are very excited to establish 888Africa alongside such an impressive roster of industry talent.”

888Africa to establish African joint venture

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It’s Africa calling for a quintet of gambling industry veterans who have announced a new joint venture with online giant 888.com.

Named 888Africa, the new operator will launch in four, still to be confirmed, regulated markets on the Mother Continent, offering 888 brands on a third-party platform that will be specifically designed and tailored for local punters.

The five pioneers comprise three former top executives of the Stars Group—Christopher Coyne, ex-Chief Marketing Officer; Andrew Lee, one-time MD of the group’s sportsbook; Ian Marmion, former Trading Director—and Alex Rutherford, ex-Editec Online, with Helen Scott-Allen, ex-CFO of Premier Bet.

888.com has invested a minority stake in the new African venture, with the option to buy the company outright.

Coyne, who will serve as 888Africa’s CEO, said: ““We are delighted to launch alongside 888.

“With our team of experienced professionals and significant knowledge of the African markets, it is our ambition to build the business towards market-leading positions in selected regulated markets across the region.

“Partnering with 888 will give us access to a world-class brand, as well as a broad team of experts to support our growth plans, further enhancing our confidence in our future prospects.”

Added Itai Pazner, Chief Executive of 888 Holdings: “We are very excited to establish 888Africa alongside such an impressive roster of industry talent.

“This new joint venture will launch 888’s world-class online betting and gaming brands to millions of new customers in the exciting and fast-growing African online market.

“The structure of this deal enables the group to invest in a strong business with high growth ambitions, without distracting focus from our core business and key strategic markets.

“We look forward to being a part of 888Africa’s journey as it grows its footprint and increases brand awareness, while also offering potentially significant long-term opportunities for the Group in the future.”