The gaming industry is basically the practice involved in the monetization, development, and marketing of video games. Practicing these three requires a ton of human effort, which results in creating an enormous amount of jobs throughout the globe. In a few years, the gaming industry in Ghana has grown from focussing on particular customers to the mainstream markets. Let us explore some basic facts about the gaming industry in Ghana, its market value, and its growth over the years.
History of Gaming Industry in Ghana
The history of Ghanaâ€™s gaming industry is almost 50 years old, even older than some of the gaming platforms. Majorly the whole gaming industry is operated under three acts: the 1960 Betting Lottery Act, the 1973 Gambling Machines Act, and the Casino Licensing Act. Digitalization is progressing rapidly in Ghana, helping the entire gaming industry to introduce new laws and regulations in favor of gamers. Currently, the gaming industry in Ghana is regulated under the Ministry of Interior, which was established under the Gaming Act 2006. This act allows all kinds of gaming in the entire country except lottery.
Contribution of the Gaming Industry to Ghanaâ€™s Economy
Today anyone can enjoy online games no matter if you have $10 or millions. The gaming industry in Ghana contributes in so many ways to the countryâ€™s economy. It supports Ghanaâ€™s economy by increasing overall business sales and providing gaming taxes. In the last decade, the gaming industry in Ghana managed to get amazing growth. This directly contributed to the countryâ€™s economy. Over the years, online gaming has reached throughout the country and contributed a lot to its economy.
With the advancement of technology, gamers can now play games on their computers, mobile phones, PlayStation 5, Xbox, and various other devices. This directly increased the demand for these gaming setups in the market resulting in business expansion. The main source through which a gaming company generates revenue is advertising and taking percentages in the winning amount. They also charge some fees for downloading the game and buying a membership.
Future of Ghanaâ€™s Gaming Market
Ghanaâ€™s gaming market is growing amazingly, giving hope for a promising future. As the industry grows, online gaming companies likeÂ 22BetÂ will offer amazing discounts and offers to attract new gamers. These approaches will motivate the mass and help transform Ghanaâ€™s gaming industry into Africaâ€™s gaming hub. The public of Ghana is adopting cloud-based technologies and software technologies very quickly, and it has led to an increase in internet awareness. This directly helps in increasing the gaming trends among the public of Ghana.
Based on certain studies, the gaming industry of Ghana will show enormous growth during 2021-27. During the lockdown period, people spent more time at their homes which led to an increase in the usage of interest in playing online games. Due to the increase in the number of mobile users in the country, the gaming industry is going to experience growth in upcoming years. This will lead to an impressive increase in the revenue just by the mobile segment users.
Objectives of Online Gaming Regulators
The gaming commission solely focuses on controlling, regulating, and monitoring all kinds of gaming services allowed in overall Ghana. Below is a list of objectives and practices of the gaming commission in Ghana :
- Decides and makes the required proposals needed to improve the facilities provided by the gaming industry.
- Provides licensing to the qualified companies interested in providing games to the mass.
- When needed, it serves as a body providing advice to the government on topics related to gaming in the country.
- Takes care of all the complaints and issues raised by the gaming companies and the players.
- Maintain and ensure that all the licensed gaming companies are keeping the minimum bankroll implemented by the government.
Gaming Commission of Ghana: Vision & Goals
The main vision of The Gaming Commission of Ghana is to maintain the integrity and reputation of the online gaming industry in the country. By doing this, they want to make Ghanaâ€™s gaming industry a world-class gaming market. The operators follow every law imposed by the government and focus on not violating any of them. The gaming industry also puts effort into supporting the country economically.
In order to do so, the gaming market increases the business of selling, buying, importing, and exporting goods related to gaming. They are also focusing on providing access to play and participate in online games to the citizens of Ghana. Here are some goals of the Gaming Commission of Ghana:
- Making the gaming industryâ€™s customer service effective and available for each gamer.
- Maintain a healthy and regulatory environment between the gaming industry and the players along with following the laws of government.
- Inform their users about the changes in rules and regulations made by the committee.
- Promote and advertise the fair and equal for everyone kind of gaming environment throughout the country.