SiGMA Africa hosted a panel this week moderated by Daniel Robus, CRO of Contactable with expert specialists joining the panel. They were Solomon Godwin, Head of Booming Games in Africa, Victor Sakushenko, Head of Sales – Sportsbook at SOFTSWISS and Hamed Rahini, Regional Manager Africa for Amusnet. The discussion explored crucial aspects in the African market ranging from investment strategies to regulatory challenges.

Daniel Robus opened the discussions and posed several thought-provoking questions.

He asked, “If you had a million dollars, where would you invest it?” and “What should we be reading before we venture into a new area in Africa?” and “What was the biggest mistake one should avoid when entering Africa.”

Solomon Godwin, provided an insightful response. He noted that Africa is still in its infancy stage in terms of development. He cautioned that what has succeeded in Europe will not necessarily work in Africa and explained that it’s not just about localizing the platform and content or finding a local partner.

“African punters to do not gamble for fun they gamble for pay outs”

Godwin pointed out that people often discuss what it takes to succeed in Africa, but rarely do they talk about what it takes to fail there. His perspective offered a fresh take on the surge in Africa, questioning whether it’s a pickup from the COVID-19 pandemic or a trajectory for the next decade. His insights certainly added depth to the conversation, prompting further exploration of these critical issues. He carried on to speak about the unique nature of the African market, cautioning against the assumption that European models of success would seamlessly translate. He stressed the need for deep localization and understanding of local preferences, highlighting the importance of recognizing potential pitfalls.

Hamed Rahini shed light on governmental attitudes, noting a shift towards supportive regulatory frameworks post-COVID, which opened up avenues for expansion across the continent.

 Hamed highlighted that governments across Africa are aiding business expansion, becoming more adaptive since COVID-19.

Regulatory diversity and local preferences in the African gaming industry

Daniel Robus hinted at the diversity of regulations in different countries on the continent.

Victor Sakushenko emphasized the importance of understanding local regulations and focusing on player needs. He cited the popularity of crash games in South Africa as an example. Solomon advised new entrants to be patient with their strategies, emphasizing the importance of understanding the local context and building trust. He suggested that believing in your team could lead to local success. This discussion provided valuable insights into the complexities of doing business in Africa.

He pointed out the paramount importance of customer-centric approaches, tailoring offerings to meet the preferences of a predominantly young, tech-savvy demographic. He identified mobile betting, simplicity, and fast-paced gaming experiences as key drivers of success.

Throughout the discussion, the panel discussed the necessity of adapting strategies to local cultures and market dynamics, cautioning against overcomplication and advocating for a deep understanding of each region’s unique landscape.

Ultimately, the session covered the immense potential of the African market while emphasizing the need for careful navigation and an understanding of the complexities and challenges of each location. As the industry continues to evolve, embracing local insights and developing a strategy for simplicity could be key to unlocking success in this vibrant and dynamic realm of the sector across Africa.