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Africa Drives Super Group’s Revenue Growth
Africa represents the most significant revenue source for Super Group in 2025. The firm’s latest Q3 financial results showed revenue of $219 million from Africa and the Middle East, up from $164 million in Q3 2024. This performance eclipsed revenues from Europe ($81 million), North America ($33 million), and the Asia-Pacific region ($6 million).
Among Africa’s 54 countries, South Africa stands out as Super Group’s most important market, with Betway ranking among the biggest online brands in the country. The local industry is experiencing rapid growth, with total gross gaming revenue (GGR) for 2023/24 rising 25.7% to R59.3 billion (€2.9 billion), though this expansion has attracted negative attention from some public and political groups.
Linking Betting Growth with Crypto Adoption
Super Group sees an opportunity to connect South Africa’s expanding betting industry with the country’s growing appreciation for cryptocurrency. The company has noted African stablecoin volume, estimated at around $100 billion across key markets according to company data.
The Supercoin Wallet will facilitate the use of the new stablecoin within the Super Group ecosystem, with the company planning to integrate crypto payments directly into its Betway platform. This strategy positions Super Group to tap into a demographic that increasingly prefers digital payment alternatives to traditional banking methods.
South Africa’s cryptocurrency adoption rates support this approach. The country is considered one of the fastest-growing crypto markets globally, with millions of South Africans already using digital wallets and cryptocurrency exchanges for various financial transactions.
Strategic Focus on South Africa
The decision to launch Supercoin in South Africa reflects both the country’s importance to Super Group’s operations and the regulatory environment that supports stablecoin issuance. The company secured the necessary licenses from the Financial Sector Conduct Authority (FSCA) to issue the stablecoin and has partnered with South African consumer crypto exchange Luno to facilitate the rollout.
Super Group previously announced during its Q3 earnings call that the company views cryptocurrency as a solution to high banking costs across Africa, where payment processing fees can reach 3% to 6% of deposits. By encouraging customers to use stablecoins, Super Group aims to bypass traditional banking infrastructure and reduce these costly transaction fees.
The ZAR Supercoin launch represents the first phase of Super Group’s broader cryptocurrency strategy, with the company indicating potential expansion to other African markets depending on local regulatory frameworks and market conditions.
Source: Super Group
