Kevin Nyango
TechInAfrica – In order to understand better about the developing gaming industry in Africa in term of the direct and indirect investment opportunities in the emerging sectors, Amne Suedi, as the Principal at Shikana Law Group operated in East Africa and based in Kenya and Tanzania take an initiative to deep dig about the reasoning behind the investment in the so-called diverse gaming industry in Africa.
Why is there such a focus on Africa at this time?
The investment in the gaming industry in Africa is potential to go bigger and impactful in creating job opportunities for the locals as well as the revenues collected by the tax or government authorities. Moreover, the African government is able to give more influence to the industry as they can turn it into the development of many sectors, such as sports, entrepreneurship centers, and many more.
Where do you see the big wins for the industry in the coming months?
Speaking of opportunities, the East African market nowadays has been exciting, especially because of the legislators are trying to cope with the fast-changing technology. Even though the market in Tanzania, Kenya, and Uganda are smaller than the Nigerian market, they leave a mark for a potential growth. There is always room for leaving a mark on the market. By the recent legislative changes in Tanzania, Kenya, and Uganda, it should not prevent investors from investing in the sector. There is always be a way or two to get engaged with legislators. By making good strategies, investors are able to achieve imperfect legislation that will meet their investment requirements, at least halfway. It worked with many other sectors, it should do the same with this one (gaming sector).
Who is currently targeting the market?
Even though investors in East Africa are not typically household names in gaming, like Ladbrokes, GVC Holdings, more entrepreneurs are going to into gaming for the first time because it will bring potential profit in return. People need to change their perception about investments in Africa. Either in Africa or any other countries, if you want to experience the excellence, you need to pay for the price.
What’s the best place to start for operators looking to work in Africa?
First of all, it would be much better to look for a legal counselor to assist you to go through the process. There might not be many experts in the field but you can count on Shikana Law Group on this since it has a proven track record. The Law Group has successfully engaged with regulators and settled up sound investments in the gaming sector in East Africa. Since the market in Kenya, Tanzania, and Uganda are significantly different from one another, it is better to have a good understanding of the market you are going to operate in. The market in each of these countries needs to be seen differently and separately.
What’s your top tip for those interested in doing business in Africa?
The ultimate tip I want to give to investors who want to invest in Africa: stop comparing one market to another and treat them separately.
For more information on the first ICE Africa and to register, visit the ICE Africa website: www.ICEAfrica.za.com
