With the African iGaming market continuing to gather speed, BtoBet has released a new industry report which seeks to provide insight into how payment systems across Africa are playing a role in improving the viability of online gaming businesses.
The report, entitled West Africa: Driving the Local iGaming Industry, looks at how the African market has sought to attract operators looking to diversify their operations.
As stated by Alessandro Pizzolotto, STM Gaming’s CEO – with the company being BtoBet’s regional Certified Partner for Africa – “not only is the country registering a constant increase in terms of internet and smartphone penetration, but investments in the fintech sector has seen the business thrive.”
Over recent years, however, West Africa and especially Nigeria, is registering significant year-on-year improvements in terms of internet and smartphone penetration, laying a solid foundation for an exponential growth for both the local iGaming industry and affiliates alike.
Pizzolotto added: “All this coupled with the fact that the local regulatory framework is one of the most robust in the region, and the local population being very passionate about sports in particular football and major European leagues, have resulted in a significant growth of Omnichannel operators in the market.”
The report comes at a time where affiliates and operators are facing a tough regulatory landscape in the African market, with the Kenyan government confirming that its Betting Control and Licensing Board (BCLB) had delayed the renewal of a number of operational licenses.
Confirmed by the BCLB, 13 casinos, six lotteries and eight sports betting firms are awaiting the renewal of their licenses, while the regulator also refused the renewal of 19 betting operators’ licenses pending security vetting of their operations and ownership.