Gaming in Africa
You Should Know Post Covid-19 The region is the second most populous continent globally; the gambling industry in the area is one of the out sorted businesses that are experiencing exponential growth in the last five years. Especially the love-affair for sports, particularly the sub-sector football betting, is booming. Adeleye Awakan Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa.
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erhaps experts in the industry have come up with different opinions due to the tremendous growth of the African gambling industry as experienced, and some attributed to a vast demographic the region boast. In contrast, some experts said digital transformation, digital inclusion in sectors such as banks, Telecos, and the FinTech sector, such as mobile money access. Along with mobile-first, which is the norm among young African adults and internet penetration in the continent, as stated, Africa's demographically has the world's youngest inhabitant. By 2030, one in three on the planet will live in Africa, which will contribute to the massive success of the Africa gaming ecosystem over the next decade. The African economy is another critical sector of the gaming ecosystem, the regional economy of the Covid-19 crisis will plunge compare to the 3.5%GDP growth the continent experience over the last five years. All could threaten due to the Covid-19 pandemic, which the COVID-19 crisis will threaten nearly 20 million jobs in
Africa both in the formal and informal sectors, which will result in youth unemployment that will, twice that of older adults, which Africa demographically has the world's young people. According to recent reports by (AFDBA) Africa Development Bank amid COVID-19 pandemic impact on the African economy outlook, real GDP in Africa projected to contract by 1.7 percent in 2020, which corresponds to a GDP drop of 5.6 percentage points from January 2020. Pre-COVID-19 projection in the worst-case scenario, if the pandemic continues beyond the first half of 2020, there would be a deeper GDP contraction in 2020 of 3.4 percent, down by 7.3 percentage points from the growth rate of 3.9 percent projected before the Covid-19. With the expected decrease of growth, Africa could suffer GDP losses in 2020 between $145.5 billion (baseline) and $189.7 billion (worst case) from the pre-COVID-19 estimated GDP of 2.59 trillion for 2020. However, the report states the most affected economies on the continent projected to be those
with the weak healthcare system, those that rely heavily on tourism, international trade, and commodity exports, and those with high debt burdens and high dependence on volatile global financial flows. The overall impact of the pandemic on socioeconomic outcomes, however, remains uncertain. It will depend crucially on the unfolding epidemiology of the virus, the extent of its effects on demand and supply, the effectiveness of public policy responses, and the persistence of behavioral changes. The AfCFTA, African Continental Free Trade is a lifeline, but still another sector that is threatened by the Covid-19 crisis. The initiative of the deal is the Africa Continental Free Trade Area (AFCTA) envisioned as the world's largest free-trade zone. That will unite 1.3 billion people, create 3.4 trillion economic blocs, and boost trade within itself. Heat commerce in the region removes all trade barriers, taxes, and free flow of goods in the area but expect to commence in July 2020. Still, due to the Covid-19 pandemic delay, the
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