TransAtlantic Capital Inc (TACI), a Nevada-based investment business, has acquired Kenyan licensed lottery and sports betting company Surebet.
TransAtlantic claims the transaction makes it the first US company to acquire a gaming platform in East Africa.
According to TACI, Kenya has a reported mobile market of over five million daily gamers who spend on average $20 on betting, and that being the first public company to secure a footprint in East African Gaming makes it ‘an attractive opportunity for USA shareholders to participate in the financial growth of Africa’.
The investment business says that in 2018, people in Nigeria, Kenya, and South Africa placed bets totalling over $40bn. While those wagers were mainly on football and horse racing, there is a growing interest in North American football, basketball, and baseball as well.
Julies Jenge CEO of TransAtlantic Capital, said: “Surebet is a nice addition to our global platform of cannabis, psilocybin. Having experience on the continent. Most people view Africa as a country that seems to always be in need of aid, but the 1.2 billion Africans on the continent are the fastest-growing segment of gamers.”