Betway Africa’s CEO: Unlocking Nigeria’s Investment Potential
Laurence Michel, the CEO of Betway Africa, expresses strong enthusiasm about the investment climate in Nigeria, signaling a pivotal moment for the company as it re-evaluates its operations in the region.
Although Betway Africa, part of Super Group, has not dominated the Nigerian market as it has in several other African countries, the landscape may soon shift. Previous regulatory challenges prompted a pullback, but Michel believes the recent developments indicate that the time is ripe for renewed investment.
A significant clarification in the regulatory framework emerged from a Supreme Court ruling in November 2024, which decisively favored state governments over the federal authority regarding gaming regulations. This change is expected to provide a more stable environment for businesses looking to operate in Nigeria.
With a population exceeding 235 million, Nigeria ranks as Africa’s most populous nation and the sixth-largest worldwide. This demographic translates to a substantial market opportunity estimated at $2.6 billion.
At a recent investor meeting, Michel commented on Nigeria’s potential for “super investment,” acknowledging the company’s prior hesitance. “We’ve been cautious due to regulatory uncertainties,” he explained, “but the environment is improving. We feel more confident now about fully engaging in this market.”
A Vision for Growth in Africa
Betway Africa currently holds a leading position in seven of its eight operational markets, having launched its services in 2015. The company is poised for further expansion as it eyes opportunities beyond its current locales, which include South Africa, Mozambique, Malawi, Zambia, Botswana, Tanzania, Ghana, and Nigeria.
During a recent earnings announcement, Super Group revealed a remarkable 38.8% year-over-year revenue increase in its Africa and Middle East segment, totaling $229 million and constituting 40% of the group’s overall revenue. Yet, the company is not taking its foot off the gas; Michel emphasized the enormous potential for growth across Africa.
With projections of a total addressable market (TAM) of $12 billion across licensed African markets, the emphasis on local insights gives Betway Africa an advantage as they strategize future steps. Notable countries for future growth include Ethiopia, Angola, Namibia, and Ivory Coast, marking a strategic expansion into uncharted territories.
One standout success story is Botswana, where Betway Africa launched in February 2025, quickly capturing a staggering 95% market share. Michel referred to this as “our best country launch ever.”
Casino Sector at the Core of Strategy
Betway Africa is committed to achieving consistent growth across the continent with a focus on casino gaming, mobile penetration, and entering new markets. Currently, its casino operations serve as a linchpin, generating 68% of net revenue, with wagers on casino games soaring by 757% since 2022.
The success of the Jackpot City brand, which has established a presence in four African nations and swiftly climbed to become the seventh-largest gaming brand in South Africa within just 16 months, adds to this growth narrative. Plans are underway to introduce Jackpot City in Ghana by the fourth quarter of this year.
Customer Retention: The Key to Sustained Success
Betway Africa is acutely aware of the importance of maintaining its market position. To this end, the company has developed the proprietary Synapse platform, designed to enhance scalability, performance, and the agility to deploy new features effectively.
Additionally, the enriched live scoring app, Betway Scores, now offers an array of sports content that Michel believes will significantly contribute to customer retention. “Our success hinges on our ability to retain customers over the long term. It’s not just about attracting them; maintaining that relationship is crucial,” he stated.
The company’s effectiveness in retaining customers is evidenced by metrics from its first half-year gross gaming revenue (GGR), which indicated that 93% originated from users acquired prior to 2025. This level of customer loyalty reaffirms Betway Africa’s commitment to not just meet, but exceed, market expectations in a rapidly evolving landscape.