MyZA

News, Directory, Events and Other Stuff

You are here: Home / News / Africa’s CEOs warn online gambling is draining customer wallets | SA News

Africa’s CEOs warn online gambling is draining customer wallets | SA News

Africa’s growing gambling use is sapping income that would ordinarily be flowing into groceries, entertainment and mobile phone bills.

The leaders of the continent’s largest companies are now warning about the harm the trend is inflicting on household budgets.

“People are spending money in a black hole that could have spent on food,” said Pieter Engelbrecht, the chief executive officer of Africa’s largest grocer Shoprite Holdings.

Read:
Current SA consumer spending habits
Employees are gambling away their paycheques

Online betting is mushrooming across Africa, with gross gaming revenue projected to reach $13.5…

Editorial Independence: Maintaining editorial independence is a priority for many
news organizations, ensuring unbiased reporting.

Read More at the Source

Category: Tag: , ,

If you feel strongly about this article then feel free to send MyZA a ‘Letter to the Editor’ using the submission form below:

Letter to the Editor

This field is for validation purposes and should be left unchanged.
If this is in response to an article please include that article title here or as the lead in for the first paragraph of your Letter below.

Separate tags with commas

Localise your letter by naming the city your words are about. Add relevant words describing your subject. Single comma separated words of no more than 5
Your Name(Required)
Your Name will be linked to the website below.
Your personal, business or social media web site
Choose NO to not set up a user account on MyZA. User Accounts will allow you to submit letters under your own Author Name

3 Latest Letters to the Editor:

  • Fun South African fact

    Dear Editor Fun South African fact: towns like Franschhoek and Stellenbosch are home to world-class wine farms set in stunning, scenic surroundings. Regards Aressa Smith In Response to/From: Luxury Properties Seized in New Lottery Crackdown

  • Condolences on the Passing of Lusanda Dumke

    Statement by Leander Kruger MPL – DA Buffalo City Constituency Leader: The Democratic Alliance in Buffalo City Metropolitan Municipality mourns the passing of Springbok Women’s rugby player and Mdantsane trailblazer, Lusanda Dumke, who lost her battle with cancer at the age of 28. South Africa has lost an exceptional athlete, a leader, and a source…

  • Rape Kits Delivered, But…

    Statement by Nicholas Gotsell MP – DA NCOP Member on Security & Justice: The DA can confirm that 2 840 rape kits arrived in Cape Town on Monday, following sustained DA oversight and pressure after multiple police stations across the Western Cape were found to be without this critical forensic evidence tool. While this delivery…

Reader Interactions

Comments

  1. Olympic sailing competition just finished. France got the gold, South Africa got the silver, and … Somalia got the boat.

  2. Some lions just escaped a nature reserve in South Africa

    They were rejected from their group.

    They could maybe ask to be let in the group again

    But their pride wouldn\’t let them.