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.
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Current SA consumer spending habits
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Online betting is mushrooming across Africa, with gross gaming revenue projected to reach $13.5…
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Fun South African Fact: South Africa is the only country in the entire world that has voluntarily abandoned its nuclear weapons programme.