According to the analysis commissioned by Carry1st, the African gaming market reached over $1.8 billion in 2024 (representing 12.4% YOY growth vs. 2023), outpacing global gaming growth sixfold (2.1% YOY growth).

Mobile gaming drove this growth, representing nearly 90% ($1.6 billion) of Africa’s $1.8 billion gaming market in 2024. 

Data reveals an estimated 349 million gamers across the African continent, of which 304 million were mobile gamers. The number of gamers grew by 32 million from 317 million in 2023, representing a 10% year-over-year (YoY) increase.

These latest figures mark the first time data released by Carry1st has encompassed the entire African continent rather than being limited to sub-Saharan Africa, as it was in previous years. In 2021, when Carry1st’s analysis focused on sub-Saharan Africa, the number of gamers was estimated at 186 million.

Africa’s Gaming Revolution

Africa’s gaming market is evolving rapidly, emerging as a major force in the global gaming landscape. In 2023, Newzoo and Carry1st projected that sub-Saharan Africa’s gaming market would reach $1 billion by 2024. 

This growth highlights Africa’s evolution from an emerging market to a major player in the global gaming industry. With widespread mobile adoption, increasing internet access, and innovative payment solutions driving expansion, Africa’s gaming market continues to grow. As global markets see slower growth, Africa’s rapid growth underlines the market’s enormous potential.

Key findings:

• The number of gamers in Africa increased by 32 million in 2024, from 317 million to 349 million, representing a 10% year-over-year (YoY) increase.
  • Mobile gamers made up 87% of the total player base, with 304 million playing on mobile.
• Africa’s gaming market grew six times faster than the global average, with global growth sitting at just 2.1% YoY in 2024
• The African gaming market grew from $1.6 billion in 2023 to $1.8 billion in 2024, representing a 12.4% year-over-year (YoY) increase.
  • Mobile gaming continues to dominate, accounting for $1.6 billion of the total $1.8 billion market, with a 14% YoY increase

• Closely examining countries in the region based on forecasts for 2024, the data reveals:
  • Egypt led with $368 million in revenue, followed by Nigeria ($300 million) and South Africa ($278 million).
  • Eritrea and Niger were the fastest-growing countries in gaming revenue, while Equatorial Guinea and Seychelles were the slowest-growing.

Carry1st CEO and Co-founder Cordel Robbin-Coker comments,  “Building on our previous collaborations with Newzoo, this new data illuminates the explosive growth of Africa’s gaming market. The dominance of mobile gaming, making up nearly 90% of the market, highlights the distinct path Africa is taking — leapfrogging traditional platforms. With such growth in players and spending, it’s clear that Africa is one of the few places to find secular growth in an industry that is otherwise showing signs of maturity.”

Michiel Buijsman, Principal Games Market Analyst at Newzoo, adds, “Africa’s gaming sector is growing rapidly and outpacing global trends, which signals that the continent is catching up and its growth cannot be overlooked. With a fast-growing mobile online population and 90% of its $1.8 billion market coming from mobile gaming, it’s clear where growth opportunities can be found.”

Following qualifying rounds, the surviving teams will gather in-person for a dramatic final showdown. The tournament will also award $1,000 to the Most Valuable Player (MVP) in the grand finals, with MVP prizes available across all regional matches.

Africa’s esports scene is experiencing rapid growth, driven by the continent’s growing young population. With over 60% of Africans aged under 25, there is immense appetite for and rising participation in competitive gaming, especially on mobile devices.

As smartphones become more prevalent, the need for expensive hardware and high-speed internet to compete at the highest levels is fading away.

To meet this growing demand, the ecosystem is evolving to provide gamers with an elevated experience. Carry1st, which develops, licences, publishes and monetizes games on the continent, recently partnered with Call of Duty: Mobile to deploy dedicated servers in Nigeria and South Africa for this growing community.

The Carry1st Africa Cup signals the bright future of esports in Africa, amidst the backdrop of a burgeoning gaming market expected to surpass $1 billion this year. 

Carry1st CEO and Co-Founder Cordel Robbin-Coker comments, “Carry1st Africa Cup is a realization of our vision of uniting the continent’s gamers and reflects our broader mission to enhance gaming experiences in Africa. We’re excited to bring together Call of Duty: Mobile teams from major gaming hubs like Egypt, Ghana, Kenya, Morocco, Nigeria and South Africa. We’re proud to play our part in this booming esports ecosystem that will only continue to grow across the continent.”

“Having laid the groundwork with the successful launch of COD:M servers in Nigeria and South Africa, we are excited to take the next step by bringing competitive gaming to the forefront. The Cup is set to be an exhilarating celebration of African gaming talent, and we can’t wait to witness the action unfold,” adds Guillaume Noé, VP of Growth at Carry1st.

In addition to the fierce competition on the virtual battlefield, participants can also look forward to yet-to-be-announced performances from the continent’s biggest musical artists and a hub of gaming entertainment for fans.

How to Enter 

Registration for the Carry1st Africa Cup will open on Monday 27th May via the Carry1st website.

Teams must consist of a minimum of 5 players, and the competition is open to amateur and professional gamers alike. Participants from across the continent will compete using Call of Duty: Mobile’s multiplayer functionality.

Upon registration, players will receive special lobby codes for their matches, granting them access to exclusive gaming lobbies where they will face off against other teams to compete for a spot in the finals and to win the Cup.

The qualification stages are expected to run throughout June and July, which will culminate in the tournament’s finals, set to take place in August 2024, with regional champions taking part.

Carry1st will support any travel arrangements for teams unable to travel for the finals, ensuring that all qualifying teams can participate.

The round for Carry1st was led by Andreessen Horowitz with participation from new investors such as Avenir and Google, with follow-on investments from Riot Games and TTV Capital. 

While the African gaming industry has significant monetisation potential, international/regional game developers/studios operating there often find monetisation difficult, due to fragmented game distribution channels and payment methods. 

Carry1st is leveraging its knowledge of Africa to handle the distribution needs of its partners, while also aggregating different payment methods to make in-game payments seamless for gamers when they interact with their or partners’ games. 

The company is based in South Africa with a team size of 37 people working fully remotely across 18 countries with plans to scale to other African countries.

Business model

Who: Carry1st’s stakeholders include – game developers/studios (looking to market their games to local and/or international audiences), gamers (who interact with their or partners’ games) and fintechs (with whom it partners for airtime/ticket sales and provision of in-game payment options). 

What: Carry1st was founded in 2018 as a game studio to develop its own games but subsequently pivoted more towards publishing, where it handles the distribution, marketing and financing of mobile games for game developers/studios. 

How: Game developers looking to partner with Carry1st typically fill a form on the latter’s website stating – the game title, number of published games, video/presentation about the game, for example, all of which it reviews before deciding on whether to follow up with the company or not.

Revenue model

The company claims that revenue from games increased ~90% on a MoM basis since 2H21, and that it has signed publishing deals for seven games with six studios globally. Further, Carry1st typically adopts a revenue share model with its partners, whilst leveraging its expansive network to drive distribution, visibility and gamer retention within and outside Africa for them. 

Recently, it launched an online marketplace for selling virtual goods e.g. airtime/mobile data to gamers, who pay either via bank transfers/crypto, thus enabling it to earn a margin on each sale.

Future plans

Monies raised will be used to expand its content portfolio and engineering teams. It also plans to double down on its user acquisition efforts while exploring game co-development opportunities with studios. Finally, it plans to develop its infrastructure to support play-to-earn gaming in Africa, hence its decision to venture into web3 following this raise.

Andreessen Horowitz — a16z, making its first investment in an Africa-headquartered company, led the round for Carry1st. Avenir, Google, as well as angel investors like Grammy winner and renowned crypto investor Nas, the founders of Chipper Cash, Sky Mavis, and Yield Guild Games also took part in the round.

The round — which is an extension of Carry1st Series A raised in May 2021 — also included investors such as Riot Games, Konvoy Ventures, Raine Ventures and TTV Capital, who participated last year and would enable Carry1st to scale operations beyond its current reach, further into the African continent.

Having recently launched a proprietary payment and online marketplace to better monetise content, Cape Town-based Carry1st was founded in 2018 as a mobile games publisher. The company has so far raised a total funding amount of $27,700,000. The company has reached millions of users across the region with its captivating games such as Mine Rescue and SpongeBob: Krusty Cook-Off since inception.

With monthly revenue growth of 96%, Carry1st will leverage the current investment for the expansion of its content portfolio; grow its product, engineering, and growth teams; and acquire tens of millions of new users. 

The company also seeks to expand into game co-development, working with leading game studios on original concepts, and developing the infrastructure to support play-to-earn gaming. 

“We’re excited to partner with this world-class group of investors who, in addition to capital, bring expertise across gaming, fintech, and web3,” said Cordel Robbin-Coker, co-founder and CEO of Carry1st. 

“In 2021 we launched multiple games and digital commerce solutions achieving really strong growth. Together we can accelerate this growth and achieve our goal of becoming the leading consumer internet company in the region.”

David Haber, general partner, Andreessen Horowitz said he was delighted to be making the firm’s first investment in an Africa-headquartered company in Carry1st.

“We see immense opportunity for the company to mirror outstanding successes we’ve seen in markets like India, China, and Southeast Asia. We couldn’t be more thrilled to partner with founders Cordel, Lucy, Tino, and the Carry1st team on their mission to build the Garena of Africa.”