Entry into Africa presents a range of unique challenges, however, Super Group recently revealed that crypto may be the answer to unlocking the continent’s potential.
CEO Neil Menashe confirmed that the company is forming a long-term plan to develop crypto payments capabilities and bypass the high costs of banking in Africa.
Speaking on Super Group’s Q2 2025 earnings call, he told investors: “In the African side of our business, we have a banking issue there. I think crypto and coins can make a huge difference because banking is a really big cost in Africa, especially for us onboarding customers and then payments across the continent.
“That’s our great long-term play. I think it aligns with our strategy, especially on the processing side. If we can do something clever there, which we’ve got some ideas on, it effectively will bring pure profit to the bottom line.”
Super Group has a significant presence in Africa, operating brands such as Betway and Jackpot City across eight different countries.
The company hailed the impact of trading in Africa, as well as Europe, for pushing it to record quarterly revenues in the second quarter of 2025, reporting group revenues of $579m, up 30% year-on-year.
Super Group reported revenues of $229m for its operations in Africa and the Middle East, up from $165m in the same period last year.
Looking more specifically at Africa, Menashe confirmed that Super Group’s African revenue grew 59%. He also highlighted significant growth in Ghana, 63%, and noted that Super Group holds podium positions in seven out of eight markets its present in.
As in many regions, the attitude to crypto by governments across Africa continues to develop as the technology becomes a more-widely accepted method of payments.
Last year, Quidax, an African-focused cryptocurrency exchange, became the first regulated crypto company in Africa, receiving clearance from Nigeria’s Securities and Exchange Commission.
Meanwhile, the Bank of Ghana is expected to launch a regulatory framework for cryptocurrencies in Q3 2025, as digital asset use in the country continues to rise.
As well as solve a financial issue, Super Group also believes implementing crypto payments will unlock a new demographic of customers in Africa.
“It’s a different kind of customer, again, a different genre, in the same way that in the casinos, we have different genres of casino. Crypto is a different kind of customer. So that helps us, and that’s what we are actively looking at,” explained Menashe.
Alongside crypto, Super Group detailed plans to invest in its technology platform, especially in South Africa and Nigeria, as well as roll out Jackpot City in several markets.
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