Super Group CEO Neal Menashe has said the Betway and Spin parent company is “seeking new opportunities” around crypto to help reduce payments costs in Africa.
Speaking on the operator’s Q2 earnings call, Menashe revealed the online business was exploring the payment option as part of further exploration of tech and platform upgrades.
Super Group holds seven podium positions in Africa via its Betway brand, while a recent launch in Botswana was hailed as “exceptional” by bosses.
Africa and the Middle East account for the lion’s share of group revenue in Q2 at $229m (£170.6m), or 40%.
Additionally, sports betting revenue in Africa was up 34% year on year, while igaming rose 42%.
Ghana was a top performer, with sports betting revenue rising 48% and online casino up 71%. Super Group added that all markets in Africa reported growth bar Nigeria.
Menashe said: “We are also actively implementing and seeking new opportunities in the crypto space.
“These initiatives aim to position us for long-term success as alternative payment methods and digital asset frameworks become more integrated into regulated gaming ecosystems.
“I think especially in the African side of our business, crypto can make a huge difference. Banking is a really big cost in Africa, especially for onboarding customers and payments across the continent.
“I think it also brings a different [type] of customer. That’s what we are actively looking at. We are looking at everything under the hood.”
The CEO also stated the business was investing in its tech platform in South Africa and Nigeria, while confirming the appointment of the operator’s first chief technology officer.
Menashe continued: “This appointment reflects our commitment to innovation, operating efficiencies and synergies across all platforms.
“With a strong balance sheet, consistent free cashflow and an addition of a good CTO to spearhead our technology initiatives, we remain confident we are well positioned to reinvest in growth and pursue strategic opportunities across key areas of the business.”
The post Super Group is “actively looking at” crypto, says CEO first appeared on EGR Intel.
Betway and Spin parent company suggests that reduced payment costs in Africa could be of huge benefit, as boss Neal Menashe announces new chief technology officer too
The post Super Group is “actively looking at” crypto, says CEO first appeared on EGR Intel.