INSIGHT AFRICA
It is hard to make generalities when it comes to such a vast continent, but most jurisdictions in Africa have legalised land-based sports betting, and have legalised or are in the process of legalising online gambling, and casinos and slot parlours are also permitted in most jurisdictions. While online gambling has risen in popularity due to the success of mobile money banking applications and increasing access to the Internet, online casino gambling remains more restricted than other forms of gambling and betting.
While there are still many opportunities, growth is likely to be slow due to harsh economic conditions overall. Now emerging from a series of unprecedented global shocks, growth in Sub- Saharan Africa is projected to have slowed to 2.5 per cent in 2023, from 3.6 per cent in 2022. According to the World Bank’s most recent economic update the downturn is due to rising conflict and continued violence across the region. It must also be pointed out that about 462 million people in the region are still living in extreme poverty in 2023. According to the latest World Bank Africa’s Pulse report, rising instability, weak growth in the region’s largest economies, and lingering uncertainty in the global economy are dragging down growth prospects overall.
Tragically, many jurisdictions continue to be plagued by political turmoil and violence. In Gabon, a military junta took power earlier this year. Te coup is the eighth in West and Central Africa in the past three years, following government overthrows in Burkina Faso, Chad, Guinea, Mali, Niger, and Sudan. Terrorism in Sub-Saharan Africa is often intertwined with other challenges such as poverty, weak governance, corruption, and ethnic tensions. Tese factors contribute to an environment conducive to the growth of extremist groups. Violence and lawlessness has escalated in many regions with terrorism on the rise in many jurisdictions, most notably in Mali, Burkina Faso and Chad. Given the turbulent nature of politics and conflicts, there are a number of jurisdictions that have no gambling laws in place at all.
Tragically, many jurisdictions continue to be plagued by political turmoil and violence. In The Gabon, a military junta took power earlier this year. The coup is the eighth in West and Central Africa in the past
three years, following government overthrows in
Burkina Faso, Chad, Guinea, Mali, Niger, and Sudan. Terrorism in Sub-Saharan Africa is often
intertwined with other challenges such as poverty, weak governance, corruption, and ethnic tensions.
Sub-Saharan Africa is home to around 1.18bn people and is a vast and diverse region. In addition, Sub-Saharan countries in Africa are projected to increase in population faster than the rest of the world. Over a billion people are expected to become part of the African population over the next 50 years.
Sub-Saharan Africa is also home to several countries with relatively stable democratic systems. Tese include Botswana, considered to be one of the most stable democracies in Africa, Cape Verde, Ghana and Mauritius. In addition, a number of countries in the region have experienced strong economic growth over recent years. Coupled with political stability it is unsurprising that we are seeing some of the largest areas of growth even in countries that are now experiencing economic downturns in the wake of Covid, the war in Ukraine and other economic factors. We are also seeing other less developed countries with large populations that are looking to improve their gambling laws and allow for an expansion of the market long term.
WIRE / PULSE / INSIGHT / REPORTS P155
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