Africa’s population growth dominance takes momentum in the African online gaming ecosystem, with online betting companies taking advantage of the tech-savvy growing African population expected to double by 2030, in contrast offering customers in the space a robust sophisticated platform to meet the demand of its customers.
In a nutshell, 83% of global population growth is predicted to come from Africa; in other words, by 2100, one in three people on the planet will live in Africa. This population rate is expected to see demand for everything across different sectors.
Even though, this population growth will create opportunities and challenges with limited access to the Internet, financial services, digital skills, and education.
Consequently, these challenges will create a huge threat to the economic landscape, which will see more people impoverished in the continent and create a vacuum for this population to seek alternative means of making money. In essence, the opportunities will position the region on the world map as the next big destination to invest for investors, entrepreneurs, betting companies, financial service providers, and e-commerce giant brands, all jostling to want to tap into the rapidly growing market.
Though the battlefield in the iGaming ecosystem has been gaining momentum over the years as the industry experienced a surge of new market entries of big European betting companies exploring the African market all want to have a fair share of the market.
We have seen access to financial and internet services penetration, which is pivotal to the growing population and online betting, of which the vast majority of punters are under the age of 25.
As mentioned, the demand for internet access will be significant as a new set of digital natives’ a generation of 44 per cent of sub-Saharan Africa’s population, equivalent to just over 450 million people; will own a mobile phone by 2025 and approximately about 60% of Africa’s population still lacks access to financial assistance, and affordable and robust internet service, but despite the chunk of mobile penetration access Africa still has many jobs on their hands to close the gap.
The online gaming industry will be the beneficiary of these challenges and opportunities of the growth forecast of the continents. It is interesting to understand the economic situation of most African countries will be underperformed due to population growth and also create huge opportunities for the economy if it is properly managed by the political landscape of the African countries.
African countries that best manage these challenges will of course attract foreign direct investment. It is expected that gaming stakeholders might find this challenging to highlight a market with huge potential for their business to be successful;
Our team at AA Advisory will help you navigate through this process with the help of our clients by identifying the market that best suits their business ideas to strive for iGaming business.
