Navigating size, potential and strategy for new entrants and investors to Africa

News Team March 13, 2024

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Navigating size, potential and strategy for new entrants and investors to Africa

At the SiGMA Africa panel, moderated by Daniel Robus, – CRO of Stay Contactable and experts included Imran Bukhari -Partner at WA Africa, Solomon Goodwin – Head of Booming Games Africa, Cameron Green – Founder F9 Media Group. The panel discussed the significance of developing winning strategies for game development and marketing in Africa.

Imran Bukhari said that he anticipates that numerous international operators will venture into African markets, predicting that the upcoming decade will be dominated by Africa and emphasizing the value of dialogues with international partners. He foresees that Africa will be a key focus for the next decade due to its potential for partnerships and growth.

Cameron Green, a Cape Town resident, who began his career in the industry 24 years ago in Norwood, has been drawn to Africa by the expansion of mobile payments, and his deep affection for the continent has led him to invest time in comprehending its needs. He highlighted the importance of understanding Africa’s unique needs and opportunities, particularly driven by the expansion of mobile payments.

Solomon Goodwin likened Africa to a new baby with vast untapped potential, stressing the importance of long-term investment and acknowledging Africa’s professionals and investors. The discussion emphasized the need for tailored approaches to the African market, respecting players, and addressing specific regional preferences. He stated that the commitment of professionals and investors to the continent should be recognised and long term.

Transparency, honesty and strategic partnerships

Imran Bukhari highlighted the excitement and potential growth opportunities presented by conferences such as SiGMA. He believes that Africa has evolved beyond being a low-value, high-volume market, and said that it is important to recognise the unique nature of its market. He questioned the focus of investment—whether it should be in Africa as a whole or in specific countries in Africa. Ultimately he said, businesses entering belief in genuinely helping customers, recounting how they started with a simple, lightweight proposition seven years ago to overcome data-related challenges.

Regarding attracting investors, the panel emphasized the importance of transparency, clean books, and regulatory compliance. They suggested that African businesses focus on defining clear unique selling propositions (USPs) and being honest about capabilities rather than overstating abilities. They also stressed the significance of building networks and partnerships to navigate challenges in the African business landscape.

To attract the right technology and investors, African businesses, according to Solomon Goodwin, need to maintain clean books and be direct and open. He emphasizes that clean books are a prerequisite for attracting investment and ensuring fair play in any territory. Imran adds that his company collaborates with global partners and stresses the importance of clear Unique Selling Propositions (USPs) and propositions. He advises companies to be honest about their capabilities and to build platforms based on user requirements. Being part of the right network is also crucial.

In summary, the panellists highlighted the need for strategic alignment, understanding of local dynamics, and ethical business practices to thrive in Africa’s gaming industry. They emphasized the importance of transparency, adaptability, and honesty in attracting investment and fostering sustainable growth.