Not only in Africa, but across the world, gaming revenues are on the rise. From 2020 to 2025, Mordor Intelligence states that the continent’s game-related sector will enjoy a compound annual growth rate of 12%. As such, this progression will likely provide the catalyst for the emergence of further video game developers.
Of those countries that will benefit, Rwanda is laying the foundations for a fruitful gaming future. In years gone by, the gross gaming revenue of around £7.6 million was put back into the economy due to the costs of various start-up operations. However, as time has progressed and profits have enhanced, Rwanda can now establish itself as a gaming hub in Africa. Interestingly, however, the land-locked country isn’t developing on its own. So, let’s consider how partnerships are proving advantageous to Rwanda’s gaming sector.
DopeApps’ Partnership with Suponic Global
In September 2020, Rwanda showcased its intent to further its local gaming industry through establishing global partnerships. In particular, DopeApps, a local start-up, formed a relationship with Suponic Global. According to the American company’s website, they’re striving to create a profitable eSports industry that connects gamers from all across the globe through blockchain technology. At face value, this could prove to be a significant move regarding Rwanda’s gaming future.
Having partnered with DopeApps, a Rwanda-based gaming company, the pair will seek to develop Suponic Global’s cryptocurrency, Suponic Game Credit. As per All Africa, this concept is currently in operation across more than 300 different titles. Should it be implemented in the African country, it will ensure that in-game assets can’t only be bought, sold and traded, but owned by the player.
Interestingly, this isn’t the first time that DopeApps have secured an overseas partnership. Previously, they linked-up with Goethe Institut, a cultural organisation in Germany, to create and mobile and web-based game, ILAGIK. Over the last few years, forming relationships to boost the continent’s gaming scene has become increasingly common. For example, back in 2017, BongoHive partnered with Liquid Telecom as part of an initiative to provide faster internet speeds and better cloud services.
An On-the-Rise eSports Sector
Aside from the ever-growing number of partnerships occurring within Rwanda, a local eSports-orientated approach also looks set to enhance the industry’s growth. Although Suponic Global will help competitive gaming progression, The New Times indicates that Africa will hold its first eSports tournament in February 2021. It speaks volumes about Rwanda’s gaming growth that the Rwanda Esports Organisation and Enter Africa Rwanda will manage the event.
Fascinatingly, the competition won’t just provide a welcome boost to Rwanda’s game-related sector, but it will also help put Africa on the map. Along with featuring Rwandan players, the tournament – which will consist of Call of Duty: Mobile, FIFA 21, PlayerUnknown’s Battlegrounds Mobile, and Pro Evolution Soccer 2021 Mobile – will also welcome other players from across Africa.
The event will occur virtually, and it’s expected that Algeria, Ghana, Nigeria, South Africa, and many more countries will have representatives competing. South Africa’s proposed inclusion shouldn’t come as a surprise, as they’ve long been a central player in expanding the continent’s gaming industry. As per a report from IOL, the fact that the country’s gaming sector is forecast to grow by 18% between 2020 and 2022 reflects this.
Aside from playing a leading role in heightening interest in mainstream console games, South Africa is also at the forefront of operations regarding Africa’s online casino industry. Interestingly, the most popular online games in South Africa are available at many of the bonus-offering websites listed at Casinos.co.za. Through platforms like Punt Casino and Yeti Casino, players can browse through a wide-ranging library of digital titles, ranging from blackjack to roulette, slots, video poker, and much more.
Progression Appears Likely
Following the local and overseas connections that Rwanda have formed over the last few years, the foundations are now in place to take the country’s gaming sector to the next level. Ultimately, placing eSports-driven strategies at the forefront of their plans will boost Africa’s global reputation within the industry. Also, it will showcase the continent’s talented players. Because of that, the future undoubtedly looks bright for Rwanda from a gaming standpoint.
Germany, Rwanda Sign Rwf90B Financing Agreement
Finance Minister, Dr. Uzziel Ndagijimana, and the Germany Ambassador to Rwanda, Dr. Thomas Kurz, today signed two agreements worth € 78 million (Approximately Frw 90 billion).
The financing and technical cooperation agreement is the outcome of the Inter-Governmental Negotiations that were concluded last Year between our two respective Governments.
59 million Euros of the grant agreement will be provided through KFW Development Bank and will support various initiatives including technical and vocational training, promotion of export oriented SMEs, through the support to Export Credit Facility in Rwanda under BRD, promotion of green investments as well as ICT support.
The remaining Euros19 million will be channeled through GIZ and will support decentralization and good governance, prevention of sexual and gender based violence among others.
Speaking after the signing event, Minister Ndagijimana said the financial support extended to Rwanda will support key areas that are critical to the attainment of the country’s development objectives.
“This support comes at a critical juncture given the effects COVID-19 has had on our social –economic advancement. We look forward to boosting these important areas that are in line with our National Strategy for Transformation. We thank Germany for the strong cooperation and solidarity especially during the COVID-19 pandemic,“ Minister Ndagijimana said.
Ambassador Kurz stressed: “These Agreements underline the long-standing and proven cooperation between our two countries based on friendship and mutual trust. Germany is committed to support Rwanda in its Economic Recovery Process and the implementation of NST 1 in order to reach the SDGs and to leave no one behind.”
The Division of Labor allows Germany development cooperation programme to be active in Education (including TVET); Decentralization and Good Governance, Private Sector Development and Youth; Public Financial Management (PFM); Financial Development. Germany also supports Regional Projects: Centre of Excellence for Health, Improvement of the Investment Climate, Microfinance sector-MIFSSA, ICGLR and Energy.
Malawi Issues 86 Licenses For Cannabis Production
Malawi’s Cannabis Regulatory Authority said on Friday they had issued 86 licenses to 35 companies and cooperatives to venture into cannabis cultivation for industrial hemp production.
Boniface Kadzamila the Board Chairman of Cannabis Regulatory Authority made the announcement from Lilongwe on Friday afternoon.
He said that a total of 41 companies applied but only 35 of them satisfied the requirements.
According to him the authority has issued licenses for cultivation, processing and storage and has not yet issued any license for export of cannabis.
A recent analysis by Invegrow Limited, one of the firms that conducted research on industrial hemp, found that a kilogram of industrial hemp could fetch U$1,444 on the market that there is potential for direct annual benefit for Malawians in excess of U$ 135,440,973 on 16.5 hectares or U$8,803,663 per five hectares.
The analysis further indicated that the crop has ready markets whose global value chain is worth U$9billion thus giving local Malawi investors a basis to take up cannabis production.
ex-Nakumatt CEO’s Home Auctioned
Atul Shah, the former chief executive officer of the collapsed retail giant Nakumatt lost his home to auctioneers over a U$18,609,740 debt.
The auction follows the conclusion of a protracted court battle after the Kenyan High Court dismissed a petition seeking to overturn the forced sale of the high-end property by KCB Group.
Justice Francis Tuiyott dismissed the petition by the administrator of the collapsed Supermarket chain, saying it has no chance of success.
Nakumatt’s court-appointed administrator had opposed the sale on grounds that the auction failed to follow the law, and tagged Mr Shah as an interested party to suit.
The bank, through Leakey Auctioneers, early in the year quietly sold the property, which Mr Shah had used as additional security as Nakumatt’s guarantor to offer comfort to the multiple bank loans.
“This court is not persuaded that the suit, as currently presented, demonstrates a prima facie case with a probability of success. Being unable to surmount that hurdle, it is needless for this court to discuss other aspects raised in the application,” the judge said.
KCB had earlier sold Mr Shah’s prime property in Industrial Area, Nairobi, to Furniture Palace International Ltd for about U$9,677,064 court records show.
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