Super Group eyes crypto to cut costs in key African markets

Summary

Super Group is exploring the rollout of crypto payments across its core African markets to reduce high banking and processing costs and to attract a different, tech-savvy customer segment, CEO Neal Menashe said on the group’s Q2 earnings call. The company sees digital assets as a way to speed settlements, lower fees and add new revenue streams while staying within evolving regulatory frameworks.

In Q2 the Africa and Middle East region accounted for almost 40% of group revenue, rising 38.8% year-on-year to $229m. Group revenue grew 30% year-on-year to $579.4m, monthly active customers increased 21% to 5.5m, and profit before tax was $38.8m. Super Group is also progressing technology investments and a Jackpot City rollout to support regional growth, while preparing to exit the US — a move expected to incur a one-off $30–$40m cost and for which the firm is seeking a buyer for its US player database.

Source

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Key Points

• Super Group is actively pursuing crypto payments in Africa to offset high banking and processing costs.
• Africa & Middle East generated almost 40% of Q2 revenue ($229m), up 38.8% year-on-year.
• Group Q2 revenue rose to $579.4m; monthly active customers reached 5.5m (up 21% year-on-year).
• Management believes crypto will attract a different customer segment and improve payment efficiency.
• Ongoing technology investment and a Jackpot City rollout are central to the company’s Africa strategy.
• Super Group plans to exit the US, expecting a one-off cost of $30–$40m and is seeking a buyer for its US player database.

Why should I read this?

Short version: if you keep tabs on betting operators or payments in emerging markets, this is useful. Super Group’s crypto push is a practical, cost-focused play — it’s about cutting real bills, speeding up payouts and pulling in new, crypto-friendly customers in a region that now delivers a big slice of the group’s revenue. Quick, relevant and to the point.

Context and relevance

Traditional banking in many African markets carries high fees and settlement delays. Operators are increasingly testing alternative rails — including crypto — to protect margins and reach underbanked or digital-first users. Super Group’s move mirrors wider industry trends and is timely given regulators’ shifting attitudes towards digital assets across parts of Africa.