Choosing the Right Payment Gateway for Betting Companies in Africa

Betting is big business in Africa. From Nigeria to Kenya, Uganda to Ghana, betting apps and websites are some of the most visited platforms across the continent. The industry is booming, and the numbers speak for themselves billions are processed every year through mobile payments, cards, and bank transfers.

But with that growth comes major headaches. Payment processing for betting companies in Africa is a battlefield. If you don’t get it right, you bleed money fast. Let’s break down what’s really going on and how to choose the right payment gateway if you're in this space.

The Real Challenges Betting Companies Face in Africa

1. Foreign Exchange (FX) Risk

You might collect a million dollars in local currencies but by the time you convert, it’s barely worth half.

Take Nigeria. The naira dropped over 60% in just one year. Imagine collecting ₦1.5 billion thinking it’s $1 million, and by year-end it’s worth $400,000. That’s not just volatility that’s a revenue killer.

Betting companies need to collect in local currency but settle in stable currencies like USD, EUR, or USDT. Otherwise, you're constantly at the mercy of local currency chaos.

2. Compliance Is a Nightmare

Africa has 54 countries. Each has its own laws, regulators, banking systems, and in many cases, different languages.

Getting compliant in just one country can take months. Now multiply that by 10 or 20 markets. You need a payment partner that already understands this and can navigate the licensing, regulation, and AML/KYC frameworks on your behalf.

3. Trust Issues Everywhere

Scams are still a real problem. Many operators have horror stories of partnering with a local PSP in Kenya or Ghana, only for that provider to vanish with the money.

Betting companies can't afford that risk. You need a reliable, traceable partner that can handle large volumes and has proper international standing not a company that disappears when things get tough.

4. Settlement Limitations

Most betting companies are based in Europe or Asia. That means after collecting local payments in Africa, funds need to be settled anywhere in the world not just back into the country.

Many local PSPs can’t handle that. They collect locally but can’t send money abroad, or only pay into African bank accounts. That doesn't work if your operations or shareholders are in London, Dubai, or Singapore.

Why Most Payment Providers Fall Short

Here’s the issue: many global fintechs don’t understand Africa, and most African fintechs aren’t ready to scale.

• Global PSPs lack local payment options. African users want to pay with MPESA, MTN Mobile Money, Airtel Money, and Orange Money tools global providers don’t support.

• Local PSPs are usually hyper-focused. They may offer great service in one country, but can’t help you scale across 10+ markets. You're left juggling 5–10 providers and still dealing with FX and settlement issues on your own.

You need a gateway that understands both the African payment landscape and global settlement requirements.

What to Look for in a Payment Gateway for Betting in Africa

If you’re running or expanding a betting business in Africa, here's what your payment provider MUST be able to do:

1. Multi-Country, Multi-Channel Coverage

You need to collect payments in multiple countries using the channels people actually use: MPESA (Kenya), MTN and Airtel Money (Uganda, Ghana, Rwanda), Orange Money (West Africa), and more.

Look for a provider like Elemipay by Elemitech that has built integrations across major African markets  not just one or two countries. That’s how you achieve real scale.

2. Global Settlement Capabilities

Your PSP should be able to settle funds in USD, EUR, or USDT, not just local currency or to local banks.

This flexibility helps you manage FX volatility and move money to where your team, partners, or suppliers are based  instantly.

3. Affordable FX Conversion

You’ll need to convert funds from local currencies to global ones that’s unavoidable. But some PSPs will eat you alive with hidden FX charges.

Work with a provider that offers transparent and affordable FX, and ideally gives you options like bulk conversion, hedging, or USDT-based settlements to avoid local currency drops.

4. Compliance Built In

You shouldn’t have to figure out 54 different legal systems. A good PSP should handle all that or at least offer a compliant framework you can plug into.

This is especially important for high-risk industries like betting, which are watched closely by regulators.

5. Track Record and Security

Don’t be the next company to lose millions to a ghost PSP. Choose a provider that’s:

• PCI-DSS compliant

• Has real client references

• Offers multi-country dashboards, fraud prevention, and settlement reports

• Transparent with where your money goes and how fast you get it

Why Betting Companies Are Choosing Elemitech

Elemitech offers a purpose-built solution for betting companies looking to scale across Africa. Through its product Elemipay, betting operators can:

• Collect payments via local mobile money, cards, and bank transfers across 10+ African countries

• Settle globally in USD, EUR, or USDT

• Avoid FX pitfalls with better-than-bank exchange rates

• Access a single API and dashboard to manage everything in one place

• Get weekly settlements to global bank accounts or crypto wallets

It’s the kind of partner betting companies need: local enough to know the markets, global enough to handle the money.

Final Thoughts

Africa is a massive opportunity for betting companies but only if you can navigate the mess of payments, compliance, and settlement.

The wrong payment provider can kill your business. The right one becomes your engine of growth.

If you're serious about Africa, choose a payment gateway that was built for it.

Explore what Elemipay can do for you: www.elemitech.com