Gambling Authority lures citizen entrepreneurs
The Acting Chief Executive Officer ( CEO) of the Gambling Authority, Peter Kesitilwe has urged citizen owned businesses to venture into the gambling industry as it has great potential to grow and become a major contributor to the national economy.
Kesitilwe revealed, following the unveiling of a sweeping licensing plan that will grant at least 1,800 machine licenses to entrepreneurs, that there is potential to grow Botswana’s gambling and gaming business because it is still in its infancy, which presents untapped value chain opportunities that could be exploited as the nation strives to transform Botswana’s economy through safe gaming. “The global market is driven by increasing penetration of online gaming and betting. With its high mobile penetration, internet connectivity and teledensity, Botswana businesses should be encouraged to explore existing value chain opportunities in the industry,” said Kesitilwe.
In that regard, he added, the Gambling Authority recently unveiled a sweeping licensing plan that will grant at least 1,800 machine licenses to entrepreneurs running small, medium, and micro- sized businesses across the country. Ever cognisant of the risks of overstimulating the latent demand for gambling, Kesitilwe spoke of a robust responsible gambling programme as the baseline for all gambling business licenses.
‘‘ Gambling has positive and negative outcomes that must be balanced all the time. That’s why we strongly believe in evidence- based interventions and responses to problem gambling,” he added.
Online gaming and betting have emerged as the major drivers of growth in the global gambling market. In addition to the already existing casino licenses, the Gambling Authority has announced opportunities for betting licenses, being bookmaker and totalisator. These will be followed by licenses for bingo and limited payout machines, which will be announced before the end of the current financial year.
According to the Gambling Authority’s 2021/ 2022 annual report, the gambling industry in Botswana is showing symptoms of recovery from the Covid- 19 pandemic. Buoyed by rapid technological advancements and migration to online platforms, the online gambling business will be valued over $ 127 billion by 2027, with Africa accounting for an ever- larger share of that total.
With its population of 1.4 billion, mostly productive young people, Africa has emerged as a lucrative market for the gambling industry. The continent’s rapid economic growth and large- scale investments in technology have positioned it as a global hub for the future of online gaming. In 2022, according to official data, there were approximately 4.2 million mobile phone subscribers in Botswana. In addition, as of March 2022, mobile broadband penetration had climbed by seven percent to 2.4 million, and mobile tele- density had reached 210 percent.
Online gambling’s meteoric rise in Africa has also been linked to the continent’s enthusiasm for major sports including football, basketball, cricket, rugby, cycling, and athletics. Further, mobile penetration in Africa enables gamblers to easily place their bets in the comfort of their homes and from the convenience of their mobile devices, instead of having to walk to brick and mortar gambling operations.