KPMG Warns Africa’s $1.8bn Gaming Industry Dominated by Foreigners

Omolabake Fasogbon

Global advisory firm, KPMG has warned that Africa’s fast-growing gaming industry  valued at about $1.8 billion annually, remains largely controlled by foreign developers, with most revenues flowing offshore despite strong local demands across the continent.

The advisory firm raised the concern in Lagos at an investors’ breakfast forum held alongside MaliyoCon 2025, Nigeria’s first-ever games conference. 

Stakeholders at the meeting also highlighted challenges undermining Africa, and indeed Nigeria from tapping  opportunities in the sector.

They noted that Nigeria possess the talent, market size and cultural relevance to become Africa’s next gaming hub, but that capital, structure and long-term commitment remain  scarce.

Speaking,Partner/Head, TMT sector, KPMG Africa, Mr. Lawrence  Amadi;  specifically highlighted the sector’s prospect to local economy, noting that monetising home-developed games could generate at least $300 million annually for Nigeria.

He said “This discussion is necessary to  address critical funding and awareness gap constraining Africa and Nigeria from tapping wealth in the industry.  We see the industry’s potential, but investment remains minimal, allowing foreign developers and publishers to dominate and extract value. The goal is for Africa to build its own games, generate the revenue and keep that value on the continent.”

On her part, Founder, Kucheza Gaming, Bukola Akingbade reaffirmed the market’s wealth potential, noting however  that for established players, hurting challenges beyond funding lies in mentorship and knowledge transfer. 

She called for stronger external support and experienced hands to build local capacity, crucial to unlocking wider economic opportunities.

Also, Chief Executive Officer, Maliyo Games,Mr. Hugo Obi linked success in the business to skills and ingenuity, noting that investors are drawn to solution-driven and problem solvers, on whom business progress depends on. “Investors invest in people, not ideas,”he asserted.