Beginning in Africa: WrB Africa Welcomes the Age of Online GamingPublished March 15, 2016 by Lee R
Online operators and iGaming professionals can attend WrB to see the new frontier of Africa take shape, next month in Lagos.
We've been hearing about substantial progress in all kinds of existing and emerging markets, but the biggest question, and hope, for the expansion of online gambling regulation lies with Africa.
Source of Optimism
From April 11-12, in Lagos, Nigeria, attendees at World Regulatory Briefing (WrB) Africa will find out what Africa already knows: a young population and immense natural resources are primed for expansion to overcome the traditional barriers of poor governance, civil unrest and widespread corruption.
From a purely economic standpoint, the rate of return on foreign investment in Africa is actually higher than any other developing region. FDI Intelligence figures indicate that Africa was the world's fastest growing destination for foreign investment in 2014.
Foreign Investment Coming In
Nigeria's major African economy is already attracting foreign investment, increasing by 1213.98 USD Million Q3 of 2015. President Muhammadu Buhari affirmed his administration's commitment to new policy reforms facilitating better governance and a healthier business environment with the following statement:
"I believe if Nigeria does not kill corruption, corruption will kill Nigeria."
Reform in Africa
Beneath the radar of the global eye, this new spirit of reform is slowly spreading through Africa. For the year, a total of thirty-five out of the 47 economies in Sub-Saharan Africa (74%!) have implemented at least one reform to make it easier to do business within their borders.
Coupled with the new African Union's comprehensive free trade agreement and single air transport market going into effect in 2017, Africa is on its way to becoming one of the most economically integrated regions in the world, trailing only Europe and Southeast Asia.
Here Comes the Boom
With a market of one billion people that includes a growing middle class in love with their mobile phones, lottery games, and wagering on European football as well as other foreign sports are set to boom. International gaming giants already operating in the region include Bet 365, Mybet and Mr Green.
High Level Event Incoming
WrB Africa will bring Africa's key industry stakeholders including top suppliers, operators and regulators to Nigeria. More on this fascinating event will be revealed as the date nears.