Scaling growth in Africa's gaming industry

Carry1st, a mobile games publisher, has recently secured a significant investment of $27 million from top venture capital firms such as Bitkraft and Andreessen Horowitz. The CEO of Carry1st, Cordel Robbin-Coker, appeared on CNBC Africa to discuss how these new partnerships can potentially unlock and revolutionize Africa's mobile gaming industry and monetize content. Robbin-Coker expressed excitement and gratitude for the recent capital infusion, especially considering the challenges posed by the global economic slowdown. The continued support from existing investors like Andreessen Horowitz, coupled with the confidence shown by new investors like Bitkraft, underscores the potential and growth opportunities in the African gaming market. The CEO highlighted the readiness of the African market for the anticipated boom in mobile gaming. With the continent being one of the most exciting consumer markets globally, the accessibility of smartphones has democratized gaming, allowing a broader demographic to engage and have fun. Robbin-Coker emphasized the potential for explosive growth in the mobile gaming sector across Africa. The gaming industry in Africa has been steadily expanding, with South Africa leading in the number of gamers in 2021. Projections for this year suggest that Africa will be the only region experiencing growth in the gaming market. The COVID-19 pandemic accelerated the sector's growth as more people turned to games for entertainment during the lockdowns. Despite some growth being brought forward by the pandemic, there remains substantial organic growth potential in Africa, positioning it as a key player in the global gaming market. One of the critical challenges in the African gaming industry is the seamless integration of payment solutions. Carry1st is focusing on two main areas to address this issue. Firstly, the company aims to simplify the diverse African market by acting as a central partner that can effectively collaborate with international content providers. This approach streamlines operations, making it easier to navigate the region's cultural and linguistic diversity. Secondly, Carry1st is developing its payment stack, PayFirst, to enable third parties to utilize the platform for payments, enhancing revenue opportunities and providing better user experiences. Overall, Carry1st's strategic focus on market expansion, innovative payment solutions, and partnerships with leading investors positions the company as a key player in unlocking Africa's mobile gaming potential. The growing interest and investment in the African gaming industry underscore its emergence as a significant hub for technology and entertainment on the global stage.