Why Super Group Is Betting on Gambling in Africa

Watch on YouTube ↗  |  January 25, 2026 at 06:00  |  7:01  |  Bloomberg Markets
Speakers
Neal Menashe — CEO, Super Group

Summary

Neal Menashe, CEO of Super Group, discusses why Africa is a key growth play for the company. He says Africa is about 40% of Super Group's business and that the company wants podium positions across its African markets, with a large pipeline of new countries. He also explains that fair gaming tax rates of roughly 15-25% of net gaming revenue are needed for regulated operators to compete against black-market operators. The interview covers regulation, localization, payments, scale, and expansion plans.

  • Super Group has invested early in Africa's fast-growing gambling market.
  • Africa makes up about 40% of Super Group's business.
  • Management targets podium positions in every African market and has a large pipeline.
  • The company rolls out Betway and casino brands market by market.
  • Fair tax rates of 15-25% of net gaming revenue are seen as optimal.
  • High taxes can push customers to black-market operators.
  • South Africa's provincial regulation and unlicensed competitors are key issues.
  • Super Group prioritizes customer-first, localization, payments, and scale.
Ideas
Neal Menashe CEO, Super Group 0:17
Super Group grows via African gambling.
Super Group is an early mover in Africa's gambling market, with Africa already about 40% of its business. Management wants podium positions in every African market, is rolling out Betway and casino brands country by country, has a large pipeline of new markets, uses a return-on-marketing approach, and says a dedicated team of over 1,200 people can deliver at scale.
SGHC HIGH
Neal Menashe CEO, Super Group 0:17
Africa gambling market keeps opening.
Africa's gambling market is a key growth play because more countries are opening up, the company has a huge pipeline of African markets, and he expects a lot more countries to open over the next five years with regulatory and tax frameworks that can work for regulated operators.
African gambling market HIGH
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This Bloomberg Markets video, published January 25, 2026, features Neal Menashe discussing SGHC, African gambling market. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Neal Menashe  · Tickers: SGHC, African gambling market