Ahead of a planned stock market launch later in the year, Indian mobile games developer, Nazara Technologies Limited, has reportedly established a joint venture that will enable it to offer real-money gaming services to players in Kenya.
According to a short Monday report from The Times of India newspaper, Nazara Technologies Limited has already secured a Kenyan betting license and is to hold a 70% stake in the local joint venture it has set up with Nairobi-based mobile technologies innovator Cross Gate Solutions Limited.
“We are excited to leverage Nazara [Technologies Limited’s] on-ground network built over the last few years so as to exploit the sportsbetting and the fantasy market in the African countries,” Manish Agarwal, Chief Executive Officer for Mumbai-headquartered Nazara Technologies Limited, reportedly told the newspaper. “Given its affinity for soccer, we will begin with FIFA 18.”
The Times of India reported that Nazara Technologies Limited will hope to complement its offerings by introducing investee firms such as mobile games studio Mastermind Sports Limited and daily fantasy sports innovator, HalaPlay Technologies Private Limited, to the Kenyan market. The company is purportedly set to employ up to twelve people to manage the new joint venture while moreover beginning to look into the possibility of establishing similar enterprises for the African nations of Ghana, Cameroon and Nigeria.