The reform to taxation and governance has not tempered the appetite of Super Group for the Nigerian market.
Updating investors yesterday, the group’s Chief Executive Officer, Neal Menashe, underscored that momentum is building in Africa as it continues to strengthen its footprint and plough on despite regulatory turbulence.
Having recently spent time on the ground in Nigeria, Menashe revealed, ‘the free flow of currencies is improving in the country’, marking a key boost for the operator’s presence in the market.
He emphasised that the group is looking to double or treble its business size in Nigeria, whilst also ensuring that it continues to get the product strategy right for the market.
Menashe’s unwavering enthusiasm for the Nigerian market would indicate his faith in the steps taken by the government to provide stability in the market.
Super Group’s resilience in the market is potentially boosted by the size of the operator’s footprint in the wider African market, enabling it to weather potential storms in small doses as it is less exposed to regulatory shifts.
2026 commenced with confusion and much debate in the Nigerian market, largely based around whether wagers had become exempt from value-added tax (VAT).
Despite essentially no operators applying VAT to a player’s stake, an update to the Nigerian Tax Act 2025 listed “money, stakes or securities” related to all gaming verticals as VAT-exempt items.
This ran alongside a new 11% taxation burden for operators in Nigeria, following something of a global market trend. Super Group’s ability to navigate such a headwind shouldn’t be too surprising, particularly as it was dwarfed by the tax hikes plaguing the UK.
What is interesting about Super Group’s continued faith in the Nigerian market is that it remains unwavering even as debate around control of the country’s gambling industry continues to rage on, which has fuelled much dispute amongst stakeholders.
Late last year, the country’s National Assembly passed the Central Gaming Bill, which sought to bring the sector under federal control. However, Nigeria’s President, Bola Ahmed Tinubu, refused to sign the bill, signalling his agreement that shifting control away from Nigeria’s 36 states would contravene Nigeria’s constitution.
There is a level of uncertainty around the trajectory of the future of the Nigerian market, but Super Group undeniably has retained its confidence in the market, even eyeing significant expansion across the region.
