Newzoo has released its most recent report, examining consumer spending in the African games industry through 2021. According to the report, Africa’s video game industry generated $590 million in revenue over the last five years, as the continent’s population of gamers doubled. According to the report, Sub-Saharan Africa is the fastest-growing region for mobile gamers and game buyers.
According to the report, South Africa, Nigeria, Ghana, Kenya, and Ethiopia are the top revenue-collecting countries in Africa.
South Africa, the largest gaming market, came top with consumer spending totaling US$289.5 million in 2021. Nigeria came in second, with US$184.6 million in revenue. With a gaming population of 26.94 percent, Ghana made a profit of $41.7 million. Kenya and Ethiopia obtained $38.1 million and $35.2 million in revenue.
A noteworthy finding from market research firm Mordor Intelligence explains that the African gaming business is expected to develop at a compound annual growth rate of 12% within five years, i.e., 2021 – 2026. It makes sense when you consider how the pandemic has affected the African gaming sector.
Although China and the United States are larger markets, Africa’s gaming business is developing quicker. The industry has the potential to generate significant cash for African governments since it has become a way of life for Millennials and Generation Z.