EXPERTS HOT NEWS Penetration of Fintech, Telecos, and Banks redefined Africa’s Gaming Ecosystem 3 years ago Adeleye Awakan Post Views: 814 Africa’s gambling industry has been one of the market hot-spot for stakeholders’ investors over the last five years. Still, this emerging market is not just attracting investors across all sectors because of its vast demographic or the numbers of young people living in the continent or the love-affair and the passion for sports but still thanks to the essence of the Fintech ecosystem, Telecos and Banks’ partnership that have shaped the gambling industry taking it to a whole new level. In contrast, the emergence of this entity has brought a seamless payment service to meet customers’ needs and that flexibility of making payment at the comfort of your home. The exponential growth of the Africa gaming ecosystem has experienced in the last five years is attributed to the services offered by these sectors. That has contributed immensely to the gambling industry, especially the online gambling. In contrast, payment solution service is one of the vital areas of the gambling industry; the convenient means of payment, attached with the flexibility to meet customer’s demand in real-time, is one of the hallmarks of these sectors. It is the key to why Africa’s gambling industry has experienced unprecedented growth over the years. Thanks to the penetration of Fintech, mobile phone, and digital banking coupled with penetration of telecom network that has capture those in rural areas, which majority have access to telecom network service in the region. However, according to the survey, the Africa banking sector revenue predictions on a continental scale expected to increase from $86 billion in 2017 to $129 billion in 2022, according to McKinsey’s study and published in 2018. That placed Africa has the second-largest banking market in the world in terms of growth and profitability. Though a large proportion of the continent’s population remains unbanked; however, the explosion of the digital banking coupled with the fintech penetration phenomenon due to the emergence and ubiquity of mobile technology has and continues to make immense contributions to bridging the gap of the unbanked African population. The report also found that several numbers of Africans with bank accounts increased from 170 million in 2012 to nearly 300 million in 2017. This figure expected to reach 450 million in the next five years, while 46% of global mobile money accounts are in Africa. That translates to approximately 395.7 million accounts out of a worldwide total of 866 million. The African consumer has been at the heart of Africa’s mobile banking, mobile money services revolution. In many ways, especially the gaming industry as a benefit from these sectors, it is the discerning African consumer who has turned Africa into a continent blazing. The global trail in mobile banking and Fintech, with the help of telecoms, offers a benchmark for developed gaming market where the Africa gambling industry headed. In contrast, the numbers of broadband network connections in Africa crossed the 400 million mark in 2018 (nearly twenty times 2010 levels,) the regional average broadband penetration-including 3G and 4G connections-is only 25% in 2018. Mobile broadband coverage in Africa is still at 70% of the population while in North Africa about 60% of the people covering 4G network while in sub-Saharan Africa 45% of sub-Saharan Africa owned a mobile phone, 70% with 3G coverage 34% 4G coverage according to GSMA report on Sub Saharan Africa. However, the genesis of Africa’s fintech revolution couple with mobile banking along with the telecoms little did we know that this simple solution we had built would revolutionize Africa which has created a bedrock for the success of the gambling industry. About Post Author Adeleye Awakan Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. See author's posts Adeleye AwakanAuthor E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. Facebook Twitter LinkedIn Email Print Tags: FinTech, gaming ecosystem, McKingsey study, Telcos Continue Reading Previous What makes a casino outstandingNext Covid-19 triggering deep digital change in Gaming Industry More Stories EXPERTS SOUTH AFRICA How South Africans Are Embracing Online Gambling Trends 1 hour ago Szarlot EXPERTS UGANDA Uganda: 70-year-old woman gives birth to twins 1 day ago Samuel EXPERTS GHANA Sex, screen addiction a threat to mental health – Psychiatrist 1 day ago Szarlot EXPERTS SOUTH AFRICA Scan to Pay launches new voucher solution for consumers 2 days ago Samuel EXPERTS HOT NEWS Apex African iGaming: Unmatched Regional Event Lineup for 2024 3 days ago Iwo Bulski EXPERTS NIGERIA From savannah to silicon: Africa’s tech emergence unfolds 3 days ago Samuel EXPERTS Elevate Your Home Decor: The Top 12 Canvas Prints Companies with Wallpics Leading the Way 3 days ago Tools EXPERTS NIGERIA CBN to Freeze Bank Accounts without BVN, NIN from March 2024 3 days ago Szarlot EXPERTS ONLINE Top 12 Invoice Generator Software to Boost Your Business Efficiency 5 days ago Tools EXPERTS Top 12 Companies Offering IT Certifications: A Comprehensive Guide to Advancing Your Career 6 days ago Tools EXPERTS KENYA Gamblers stake Sh620 billion in four years as betting craze rises 6 days ago Samuel EXPERTS WORLD NEWS Entain To Pay Almost $730 Million To Settle Turkish Bribery Claims 1 week ago Samuel Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.