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Super Group recorded $684 million in second-quarter revenue, with Africa contributing 46% of the total as the operator maps out an expansion strategy targeting between one and three new markets annually across the continent.
The operator’s African operations generated $310 million in the second quarter and $577 million across the first half, up from $228 million and $429 million in the respective periods last year. South Africa and Tanzania delivered particularly strong performances.
Chief executive Neal Menashe told investors the company will launch in Namibia during the final quarter of 2026, with between one and three African market entries planned each year going forward. When asked which markets Super Group is considering, Menashe said “all countries are in play” provided the tax structure and regulations make commercial sense.
The operator’s earnings presentation identified several expansion prospects, with Kenya and Angola emerging as front-runners based on market size and regulatory developments.
Namibia entry confirmed for Q4
Namibia borders two of Super Group’s strongest markets, Botswana and South Africa, giving the operator’s brands what Menashe described as “really high” brand recognition in the country before launch.
The nation’s gaming market reached approximately N$948 million (£42.95 million) in revenue at the end of 2025, serving a population of around 3.16 million. Super Group will face a 10% tax on gross gaming revenue plus annual licensing fees.
Betway’s primary competitor in Namibia will be Premier Bet, which operates in 21 African markets and counts former UFC heavyweight champion Francis Ngannou among its ambassadors. Betway Africa recently signed Nigerian singer Don Jazzy as an ambassador to support growth in Nigeria.
Kenya market hinges on regulatory clarity
Kenya appears well-positioned for Super Group’s expansion strategy. The regulated market generated $553.7 million in gross gaming revenue during 2025, according to H2 Gambling Capital, driven by increased mobile adoption and payment technology advances.
However, a High Court decree has halted implementation of the Gambling Control (Licensing) Regulations 2026 after iGaming lawyer Thomas Buckley Opar Owuor and Ken Bance challenged the rules’ validity.
The disputed regulations include licensing fees of KES 50 million (£286,944) for online casinos and bookmakers, plus a KES 200 million (£1.15 million) security bond. While these requirements may prove prohibitive for smaller operators, Super Group’s financial position suggests the costs would not block entry once the regulatory framework settles.
Angola tender expected in Q4
Angola is modernizing its gambling laws under the Instituto de Supervisão de Jogos (ISJ), with a new tender window for licenses expected to open in the final quarter of this year, according to iGaming consultant Jovelino Malungo.
License costs are projected to range between $7,000 and $10,000, making Angola a relatively accessible market from a regulatory fee perspective compared to Kenya’s higher entry barriers.
Super Group’s African revenue share has increased each quarter, rising from contributing less than a third of total revenue to nearly half. The operator’s eight existing African markets include South Africa, Tanzania, Botswana, and Nigeria, where the company has been focusing on operational improvements and market strengthening.
Key questions answered
How much revenue did Super Group’s African operations generate in the second quarter?
Super Group’s African operations generated $310 million in the second quarter, representing 46% of the company’s total $684 million quarterly revenue.
When does Super Group plan to launch in Namibia?
The company plans to launch in Namibia during the final quarter of 2026.
What are the licensing requirements for entering Kenya’s gambling market?
The disputed regulations include licensing fees of KES 50 million for online casinos and bookmakers, plus a KES 200 million security bond. However, implementation of these rules has been halted by a High Court decree.
How much will gambling licenses cost in Angola?
License costs in Angola are projected to range between $7,000 and $10,000, with a new tender window expected to open in the final quarter of this year.