Finding common ground in our goals is the first step in forming a partnership; it is about concentrating on what unites us rather than what divides us. When it comes to our more demanding gambling markets, this attitude and ability are becoming increasingly important.
In order to unlock mutual and public opportunities for the ever-increasing numbers of African punters whose attitude toward gambling is changing year after year,
it is not only necessary to identify mutual risk but also to agree to take action in ways that can unlock mutual and public opportunities for the ever-increasing numbers of African punters whose attitude toward gambling is evolving year after year. It has grown more broadly accepted over the last few years, with industry players, notably bookies, financial services, the technology sector, and software suppliers, making extensive use of the business case for strategic collaboration to great success.
Examples include operators transitioning from a “go it alone” model to a more collaborative approach by establishing more partnerships with banks, card networks, Fintech innovators, software providers, and leading technology companies that put customers at the center of everything they do and, as a result, generate greater shared value for all parties. Beyond the economic sphere, the partnership method has equal or greater application in addressing some of the most pressing issues facing the gaming industry. To give an example, a number of local operators found it difficult to respond to customer queries in real time a few years ago. Payments also proved to be a significant challenge, particularly when we had a jackpot winner, leading to companies going bankrupt or closing down without making a decision. The lack of trust in the industry from punters was also one of the challenges the sector had to deal with a few years ago.
As a result of this partnership, the sector has reached a new level of success, with an extraordinary pace of growth in the previous few years,
which is now worth billions of dollars. Thanks to some of the recent gaming events in Africa, which provide a forum for industry stakeholders to network, talk, and generate opportunities for collaboration, we are able to continue to grow. Indeed, the regulatory sector is a murky area that has yet to be addressed. Many African nations still have antiquated gambling regulations in place, and others have yet to allow internet gambling, despite the fact that just four of the 54 countries in Africa have gambling legislation in place. As a result, in order for us to properly exploit this business, we must African regulators require a holistic approach through collaboration with industry experts in the areas of regulation or collaboration with the appropriate regulatory board to guide them on how to properly regulate the industry as well as manage gambling addiction, which is becoming more prevalent in Africa’s gambling ecosystem, to effectively regulate the industry.
However, our strategy to that effect has proven to be one of the major drawbacks of the gaming sector in Africa, as previously stated. By its very nature,
the ever-evolving industry in Africa is never finished, and no one sector can complete the task alone. To successfully confront this basic issue of the digital age, we must work together in trustworthy collaboration across the public, commercial, and nonprofit sectors, drawing on the things that tie us together, such as common purpose and resolve. Despite this, the expansion of gaming in Africa is largely due to the collaboration of industry stakeholders, a strategy that has shown to be particularly effective in the developing gambling sector.