In an engaging conversation with iGaming AFRIKA, Joel Madingu, Legal & Affairs Manager at Velex Advisory DRC shared valuable insights into the burgeoning gaming industry in the Democratic Republic of Congo (DRC). As one of the few voices representing this nascent sector, he emphasized the immense potential that lies ahead.
His appreciation for the platform underscores the importance of fostering dialogue and collaboration within the African gaming community. Despite the promising atmosphere, Joel painted a picture of a challenging yet evolving gaming environment in the DRC. “Actually, in Congo, we don’t have a lot of gaming companies.
“I can say we have 16 gaming companies that are doing online betting, but with some casino,” he noted. This stark reality highlights the early stages of the industry, as the country seeks to catch up with more established markets like South Africa and Nigeria.
When explaining about regulatory frameworks, Joel stated, “The gaming sector is very young and actually we don’t have a regulator. There is SONAL, a national lottery, and the financial minister, who are the regulators in this sector.” He conveyed optimism about future developments, indicating that the government under President Félix Tshisekedi is making strides toward proper regulation, which could pave the way for growth: “In a few months or maybe next year, we’ll have a regulator in this sector.”
Investment opportunities abound in the DRC, but Joel clarified the necessity of local involvement. “It is a requirement to have a local partner, to have a local shareholder who will have 15% in the social capital of the company,” he stated. This stipulation, combined with an organized licensing process, aims to ensure that foreign investments positively impact local stakeholders.
Lastly, Joel conveyed his enthusiasm for the future of gaming in the DRC, asserting, “DRC is a big market. Only in Kinshasa, we have 16 million people… The gaming sector is the future of our country.” This assertion is a testament to the potential for growth within the sector as it harnesses new technologies and innovative payment systems. Gaming Democratic Republic of Congo