Super Group, the parent company of Betway, has reported significant revenue growth in Africa, with notable gains in Nigeria and Mozambique. The company’s latest financial results highlight these markets as key contributors to its 17% year-on-year revenue increase across the continent, reaching $262 million.
Strong Performance in Key African Markets
Nigeria and Mozambique stood out in Super Group’s third-quarter results, posting revenue increases of 42% and 62% year-on-year, respectively. The company attributed Mozambique’s performance in part to the government’s recent decision to introduce a dedicated legal framework for online gambling. This regulatory development is seen as a catalyst for further growth in the market.
Super Group also pointed to Africa’s broader potential, noting the region’s rapid population and economic growth despite lower mobile connectivity compared to global averages. The company remains optimistic about the long-term prospects for iGaming and sports betting in Africa.
Product Diversification and Innovation
To address some of Africa’s banking challenges, Super Group announced the launch of Super Coin, a stablecoin pegged to the South African rand. The wallet underwent a soft launch in April and is scheduled for public rollout in early 2027. The group plans to expand Super Coin’s reach, targeting Naira trading on Nigerian exchanges in late 2026 and pursuing a licence for a Kenyan Shilling stablecoin.
Super Group’s financial results also show that online casino operations now make up 85% of its net revenue. This segment has helped offset declines in sportsbook revenue, both internationally and within Africa, as casino growth continues to underpin the company’s earnings.
Implications for Industry Stakeholders
The company’s success in Nigeria and Mozambique, supported by regulatory developments and product innovation, signals expanding opportunities for operators, affiliates, and suppliers in Africa. The launch of Super Coin could help address persistent payment and banking hurdles in the region, making it easier for players to transact and for affiliates to receive payments. Regulatory progress, such as Mozambique’s new online gambling framework, may also create a more stable operating environment for the industry.
Continued Expansion and Revised Outlook
Beyond Africa, Super Group has established a presence in Alberta, Canada, and secured the right to apply for three licences in New Zealand’s online casino market. The company’s international segment grew 5% year-on-year, with stronger gains when excluding US operations, which Super Group is in the process of exiting. Despite these advances, the group has revised its 2026 revenue and EBITDA guidance downward, reflecting a more cautious outlook for the coming year.
Key takeaways
- Super Group saw strong revenue growth in Nigeria and Mozambique, with both markets outperforming others in Africa.
- Regulatory changes in Mozambique and product innovation like Super Coin are driving expansion.
- Online casino now represents the majority of Super Group’s revenue, offsetting sportsbook declines.
- The group is expanding internationally but has lowered its financial guidance for 2026.