GAMING IN AFRICA Recognising the potential
Xprizo CEO, Richard Mifsud, highlights the potential of online gaming in Africa and the future of the market in a Q&A with GIO.
infrastructure has been a major growth driver. This leads to better education and also provides more disposable income across generations, improving the quality of life.
What can operators expect when looking to enter Africa? RM: They can expect continuous challenges from all angles. Beginning with the product itself, one cannot expect to roll out an existing product to work in Africa. Anyone genuinely focused on entering this market needs to consider building a bespoke product for it. Operators must ensure their content is lightweight to function well in areas where internet infrastructure is perhaps less advanced. In Africa, gamification is a huge factor too. Sports-related content particularly resonates with players. On the casino side, the market is growing rapidly, especially in areas with better connectivity where players can fully enjoy the full array of content.
Please introduce yourself. Richard Mifsud: I see myself as a serial entrepreneur. In the past, I have successfully built several technology companies with a focus on iGaming and fi ntech. Over my 20-year career, I have held various executive positions, including product management, COO and CEO. In 2019, one of my startups received the prestigious award for “Lottery Software Provider of the Year” from 5-Star magazine. I have worked with numerous iGaming regulators worldwide, including the UKGC, where I held a personal management licence from the UK Gambling Commission, MGA (Malta regulator), BCLB (Kenya), Nigerian Lottery board, and Curacao regulator.
Recently, I have been actively engaged with innovative technologies such as blockchain, AI, and Fintech, exploring ways to integrate them and contribute to societies with high aspirations, particularly in emerging markets. My catalogue of work through the years in Africa, Asia, and Latin America is a testament to this.
12 NOVEMBER 2023 GIO
The African online gambling market is still relatively new compared to other more mature and established international markets. What can you tell us about the potential of online gambling in Africa? RM: Interestingly, it’s not as new as one might think. I have been working in this region for at least seven years. However, it has evolved significantly over the last couple of years. I believed in the past and still do believe that Africa holds immense potential across all business verticals, particularly in innovative areas like iGaming.
What factors are contributing to the growth of online gambling in Africa? RM: It is not an easy market to succeed in and stakes are usually very low, making it a region where a company needs to establish a substantial player base. Lastly, payments in and out of these countries often present considerable challenges. However, the increase in mobile connectivity and
What are the key markets in Africa? RM: In my opinion, there are clearly some markets more advanced than others, like Kenya and Nigeria. However, there are also emerging markets that are integral for operators, such as South Africa, Ethiopia, Zambia, Uganda, Ghana, and Congo. These markets each have their own challenges to navigate. As we all know, Africa, in general, is known as a low-stake, high-volume market. Therefore, proper preparation is essential to effectively engage with players from a marketing standpoint. On top of this, having a payment method robustly connected to these markets is a must.
In your opinion, what is the future of online gambling in Africa? RM: In short, the future looks amazing. I’ve consistently said this over the years, and I continue to do so because the market holds rich potential for those who truly understand it. Africa remains largely untapped, with space for improvement. Anyone serious about it and patient enough to build a localised strategy specifically for Africa can potentially tap into a multiple-billion-dollar market, which can still grow to be much larger than even the strongest markets in Europe.
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