Firm Enters Nigeria with $14.5m to Disrupt Igaming Market

By Sodeinde Temidayo David

Pan-African igaming operator, Cola Group, has secured a total of $14.5 million capital to expand its igaming division and accelerate its growth within multiple African online gambling marketplaces.

The company is coming to disrupt the igaming market in Nigeria after getting a licence from the Lagos State Lotteries Board through its Nigerian subsidiary, Cola Games Limited, to launch of Cola.bet.

The approval made by the Lagos state lotteries board will secure the brand to enter its fourth African igaming marketplace, following successful launches in Zambia Kenya and Ethiopia.

The operator said that it will leverage its operating blueprint from Ethiopia, which shares similarities with the Nigerian market due to both being retail-centric rather than online.

Following its success across African markets, Cola.bet aims to become Nigeria’s leading mobile-first operator, providing seamless integration with all local payment providers.

In the words of the chief operating officer of Cola.bet, Mr Dinu Bors, “Cola.bet delivers an exceptional customer-first experience and the launch augments our global ambitions within the igaming space.”

In addition to operating its own brands, Cola Group said its mobile-first Cola.bet platform can be easily adjusted and customised for B2B partners, offering players a broad selection of sport events, esports and casino games.

“The platform is highly customisable and grants B2B partners instant access to curated content for a plethora of markets. We’ll be rolling out several innovative features over the coming months, we’re only just getting started,” Mr Bors noted.

Also, the chief marketing officer of Cola.bet, Mr Dana Varnytska, added that, “Our strategy is built on a localised programme which has been developed through thorough research into market nuances and player preference. Players will benefit from bespoke bonus promotions and extremely competitive odds on the most popular events.”

Securing its new investment, Cola Group, which maintains a Curaçao gambling licence, disclosed that it was in the process of obtaining licenses in the regulated markets of Africa, LATAM and Europe.