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Says Regional Expert Ahead of ICE Africa: Don't Assume All Markets are the SamePublished September 24, 2018 by Lee R
At this juncture, countries across the continent are introducing measures designed to capitalise on emerging sectors with authorities showing increasing keenness to discuss incoming investment opportunities.
A key interview has been released to prepare investors for the inaugural ICE Africa.
This interview comes ahead of the inaugural ICE Africa from the 24-25 of October at Johannesburg's Sandton Convention Centre, where regulators as well as operators will have the ideal platform for discussing Africa's growing market.
Suedi Talks Strategy
Shikana Law Group Principal Lawyer Amne Suedi discusses her company's strategy and efforts to invest in the diverse gaming industry across Africa from her company's headquarters in Kenya and Tanzania.
Benefits of Investment
Suedi says the focus on Africa at this time in history is important and relevant because Africa is an investment area with strong growth potential. The key benefits appear to be job creation and government tax revenues, which Suedi further points out as earnings that can be diverted into social causes such as the development of sports, entrepreneurship centres, and other productive social programming.
Change to Adapt
Suedi sees the East African market as “very exciting in terms of opportunities but also the regulatory space is ever changing as legislators try and keep up with technology.” Increasing opportunities are arising in Tanzania, Kenya, Uganda as markets that are smaller than Nigeria but at the same time have that much more potential for growth.
Suedi sees recent legislative changes in Tanzania and Kenya and imminent ones in Uganda as causes for encouragement, offering new space for engaging with legislators and planning and a sound entry strategy that meets investment requirements half way. Suedi says the approach has worked in other sectors already, and the evidence-based approach should work effectively in the gaming sector in Africa as well.
Operators showing the most interest in iGaming in Africa include new entrepreneurs going into gaming for the first time in Africa in pursuit of because of the potentially significant returns that the landscape offers.
As for the best places for operators to initiate entry into Africa, Suedi advises seeking effective local legal counsel to walk new investors through the process, while reminding all of the folly of assuming that a common capital and business model will work across more than one region, pointing out that the Kenya, Tanzania and Uganda for example all main highly distinct from one another.
At this Juncture..
At this point, Suedi concludes by advising all of those considering investment in Africa to “forget what you know from other markets and treat each market as separate entity and do not compare.” The robust growth beckoning in Africa has to be tempered by adaptive measures across different markets, with ICE Africa the ideal place to learn more.