JOHANNESBURG - The burgeoning gaming industry in Africa offers countries an investment area that has the potential to create jobs and generate revenue, an official from an East African law firm said on Tuesday.
Amne Suedi, principal at Shikana Law Group, a law firm based in Kenya and Tanzania, made the comments ahead of the October 24-25 ICE Africa conference in Johannesburg which is set to provide regulators and operators with a platform to discuss the growing market.
"As a lawyer specialising in investment in Africa and being very active in the gaming industry in Africa, I think this is an investment area that has a lot of potential to grow further and to have an even bigger impact on the countries that welcome this type of investment," Suedi said.
"Governments in Africa can leverage a lot more on this industry as they can divert the earnings into development of sports, entrepreneurship centres, etc."
Suedi said the East African market was "very exciting in terms of opportunities but also the regulatory space is ever changing as legislators try and keep up with technology".
"These markets are smaller than say the Nigerian market, however with an immense growth potential," she said.
"The recent legislative changes in Tanzania and Kenya and the imminent ones in Uganda should not dissuade investors. There is always room for engaging with legislators and with planning and a sound, reasonable strategy, investors can achieve legislations that are not perfect, but which are balanced and at least meet their investment requirements half way."
Shikana Law Group is among firms that have successfully engaged with regulators to help set up investments in the gaming space in East Africa.
Next month's ICE Africa event will bring together participants from the gaming industry to explore the latest gaming innovations, share best practice and discuss strategic and sustainable progress.
- African News Agency (ANA)