Why the Right Advisers Matter More Than a Gaming Licence in Africa

Beneath the momentum of growth in Africa’s gaming market is another reality. Not all new gaming businesses that enter the continent survive for long. Some quietly shut down. Others merge, are acquired or simply fade away, raising an important question: what separates the businesses that last from those that don’t? Ikenna Bede follows the thoughts of experts who provided answers at a recent webinar

Africa’s gaming industry is no longer trying to prove its potential. Across the continent, new markets are opening, regulations are evolving, and investors continue to pursue new opportunities. Yet beneath that momentum is another reality. While new gaming businesses continue to enter African markets, not all remain for long. Some quietly shut down. Others merge, are acquired or simply fade away, raising an important question: what separates the businesses that last from those that don’t?

Industry experts believe part of the answer lies in a decision that is often overlooked. Beyond obtaining a gaming licence, they argue, choosing the right legal, tax, compliance and commercial advisers can determine whether a business succeeds in Africa’s diverse and fast-changing markets.

That question formed the basis of discussions at SLEC AFRICA’s monthly webinar, ‘Beyond Licensing: Choosing the Right Partners’, where legal and compliance professionals shared practical lessons on building sustainable gaming businesses across the continent.

Legal Compliance Manager (West Africa) at Velex Advisory, Adenike Oyebamiji, said one of the biggest mistakes investors make is treating Africa as a single market.

“Some see Africa as one country,” she said, explaining that businesses often assume customer behaviour, tax systems and regulatory frameworks are the same across the continent.

The reality, according to her, is very different. What works in Kenya may not necessarily work in Nigeria, Ghana or any other African market. Investors should therefore expect differences in tax regimes, advertising rules and regulatory requirements instead of adopting a one-size-fits-all approach.

She noted that advertising rules alone differ significantly from one jurisdiction to another, making it essential for businesses to understand local requirements before launching campaigns.

Currency volatility, foreign exchange restrictions, and revenue repatriation rules are also issues she highlighted that businesses should consider before entering any market. For example, consumers in Kenya rely heavily on M-Pesa, while businesses entering Nigeria are more likely to encounter platforms such as OPay and PalmPay. Other markets have their own dominant payment channels, making localisation an important part of any expansion strategy.

For Garron Whitesman, the Founding Partner at Whitesmans Attorneys, Africa should not be viewed as uniquely difficult for investors. Every regulated market, he argued, requires businesses to work with advisers who understand local laws and commercial realities.

The challenge is not simply finding advisers but identifying the right ones, especially since the quality of professional services differs across jurisdictions. Drawing a comparison with Europe, he noted that even regions with more harmonised regulations still have differences shaped by national laws, language and culture. Africa, he argued, presents a similar reality.

Understanding regulation also means looking beyond the rules themselves. Investors, he argued, should understand why particular tax policies exist and whether they are driven by economic priorities or political considerations, as that could influence future policy direction.

Founding Partner at SteelRose Legal, Zu Tohtayeva, echoed the importance of choosing advisers with genuine local expertise rather than relying solely on international reputations.

She warned that a global brand does not automatically translate into better advice for African gaming markets. In many cases, specialist firms with deep knowledge of local legislation are better positioned to guide businesses through regulatory requirements.

“Unless you get an adviser that lives and breathes the legislation in and out, you won’t get the best result,” she said.

Tohtayeva also cautioned against centralising decision-making outside Africa. Businesses, she argued, achieve better outcomes when they build strong local teams and empower professionals on the ground to make decisions instead of routing everything through overseas headquarters.

Proper structuring is equally important. While obtaining a licence is often seen as the finish line, she noted that poor corporate or operational structures can create unnecessary costs and compliance challenges long after market entry.

She also addressed the growing use of artificial intelligence in legal work, saying many clients now submit AI-generated drafts for review. Although she described AI as a useful tool, she believes its effectiveness in African markets remains limited because most large language models are trained predominantly on Western data.

As a result, AI-generated documents often fail to capture the nuances of African legal and regulatory frameworks, particularly where legislation is not fully documented or easily accessible. Despite those limitations, Tohtayeva expressed confidence that AI would become significantly more reliable over the next five to six years as more African legal and regulatory information becomes available.

Taken together, the speakers delivered a consistent message. Securing a gaming licence may open the door to a new market, but it does not guarantee success. Sustainable businesses are built on informed decisions, strong local partnerships and advisers who understand the realities of each jurisdiction. In a continent where no two gaming markets are exactly alike, they argued, getting the right advice from the outset could prove to be one of the most valuable investments any business makes.