The African gaming market will be worth $1 billion by 2024 — Report
New data released from Newzoo, the leading provider of games market data and insights, and Carry1st, Africa’s leading publisher of games and digital content, reveals that the African gaming market is set for continued growth, driven by increased mobile gaming revenues.
According to this latest report commissioned by Carry1st, the Sub-Saharan Africa gaming market is projected to reach over $1 billion by 2024. It will continue to grow in the following year by an estimated 10.6%. The mobile gaming sector is expected to lead this growth, outpacing revenues generated by console and PC gaming combined.
An earlier report released in 2021 from Newzoo and Carry1st showed the games industry in Sub-Saharan Africa was on track to increase by 728% in 10 years.
“The African games market is a story of potential. For the last three years, growth in the market has outpaced the global average, and it is set to keep doing so for the coming years. Saying that it’s also a challenging region to find success in. Sub-Saharan Africa houses 7% of the global player audience, but its players spend less than half a per cent of global gaming revenues,” says Tom Wijman, Lead Games Analyst at Newzoo.
“Infrastructural improvements will ensure that Africa’s player audience will continue to grow rapidly, whereas adoption of digital payments and inclusion of these payment methods in gaming platforms will ensure players can convert into paying gamers. Finally, local success stories like Carry1st’s and localized content will help grow the region’s gaming market in the coming years.”
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Inside the African gaming market
- Mobile gaming generated $778.6 million in revenue in 2022
- Overall gaming revenue in Africa is expected to exceed $1 billion within a year
- The African mobile gaming industry is expected to generate $1.1 billion in revenue by 2025, with sustained growth from 2023 to 2025
- By 2023, the African mobile gaming market is anticipated to surpass the PC gaming market almost tenfold
- Closely examining ten major countries in the region - Nigeria, South Africa, Kenya, Ethiopia, Ghana, Côte d'Ivoire, Angola, Tanzania, Cameroon and Uganda - based on gaming revenues in 2022, the report reveals:
- Nigeria leads the way in total annual gaming revenue ($249 million), followed by South Africa ($236 million), Kenya ($46 million), Ethiopia ($42 million), and Ghana ($34 million)
- Ethiopia had the highest YoY growth in 2022, growing 13% compared to the slowest-growing Uganda, which grew 6%
- Nigeria and South Africa contribute 2x the revenue of the other 8 top countries combined
According to Carry1st CEO and Co-founder Cordel Robbin-Coker:
“Historically, it has been nearly impossible to get reliable data on the African market so we’re pleased to partner with Newzoo to share this report This latest data demonstrates that Africa continues to be the fastest-growing mobile gaming market in the world. This is even more pronounced with Western markets seeing their first signs of slowed growth and decline.”
“With a massive influx of internet users and rapid adoption of digital payments, Africa is poised to follow in the footsteps of Southeast Asia and emerge as a major player in the global gaming industry,” Robbin-Coker added.