Super Group CEO Neal Menashe on putting Africa in focus

Summary

Super Group has refocused its strategy on Africa following its withdrawal from the US market. CEO Neal Menashe says Africa now represents roughly 40% of group revenue and has been the company’s largest region for five consecutive quarters. The business is seeing strong growth in established markets such as South Africa and encouraging momentum in newer launches like Botswana, with Namibia and several other countries on the expansion roadmap over the next two years.

Menashe highlights structural growth drivers across the continent — population increases, faster smartphone adoption and widespread mobile money — and cites projections that the African iGaming market could double from $11bn in 2025 to $22bn by 2030. He also notes challenges: Nigeria has required a rethink of product and go-to-market strategy, while the company continues to prioritise markets where it can be market leader.

Key Points

Africa accounts for ~40% of Super Group’s revenue and has been the largest region for five consecutive quarters.
Botswana launch (early 2025) has shown “great growth”; Namibia and other markets are planned in the next two years.
Macro tailwinds: population growth, rising smartphone penetration and expansion of mobile money services support iGaming growth.
South Africa is a mature, well-regulated market and remains the group’s cornerstone; Betway leads there, with casino driving most revenue.
Nigeria is a problematic market for Super Group; the company is redefining its mobile-first product and strategy for that market.
Exit from the US in 2025 refocused investment on markets with scale and profitability prospects; lessons learned from the US informed this discipline.
2026 World Cup is seen as a major engagement opportunity — digital activation preferred over costly official sponsorships; platform stability and payouts are operational priorities.
Menashe argues optimal iGaming tax rates are 15–25%; higher taxation risks pushing customers to unregulated operators. Super Group is trimming costs and refocusing on profitable markets amid rising taxes and competition.

Content summary

After a costly push into the US market dominated by DraftKings and FanDuel, Super Group scaled back its American ambitions and doubled down on Africa where it already has a strong foothold. The continent’s combination of favourable demographics and mobile payments is driving a rapid expansion of the iGaming opportunity. While some markets like South Africa are highly fruitful, others — notably Nigeria — demand bespoke strategies. The business will leverage major sporting events such as the 2026 World Cup to boost engagement, favouring digital activations over expensive sponsorships, and will continue to streamline operations to protect margins amid rising tax pressures.

Context and relevance

This piece is relevant to operators, investors and suppliers tracking regional strategy shifts in iGaming. It illustrates a clear post‑US pivot: reinvest in regions where scale and regulatory clarity exist, and retreat where path to profitability is blocked. The focus on Africa mirrors a broader industry trend of seeking growth in under‑penetrated, mobile-first markets while balancing regulatory and tax risks in mature markets such as the UK and Canada.

Author style

Punchy — Menashe’s comments cut to the chase: scale matters, pick your markets, and don’t be everywhere. The article underlines strategic discipline and shows why Super Group now treats Africa as a core growth engine rather than an experimental region.

Why should I read this?

Want the short version? Super Group pulled back from the US, doubled down on Africa, and it’s paying off — fast. If you care about where iGaming growth really is (hint: mobile + mobile money in Africa), this saves you the time of sifting through quarterlies. Handy if you’re scouting markets, partners or investment angles.