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Cola Group enters Nigeria with $14.5m capital

Pan-African igaming operator Cola Group has secured a $14.5 million investment to accelerate its growth within multiple African online gambling marketplaces.

The venture investment follows the licensing approval granted by the Lagos State Lotteries Board of the group’s Nigerian subsidiary, Cola Games Limited, for the launch of Cola.bet.

Lagos’ approval will see Cola enter its fourth African igaming marketplace, following successful launches in Zambia (cola.com.zm), Kenya (cola.ke) and Ethiopia (cola.et). 

Replicating its success across African markets, Cola.bet aims to become Nigeria’s leading mobile-first operator, providing seamless integration with all local payment providers.

“Cola.bet delivers an exceptional customer-first experience and the launch augments our global ambitions within the igaming space,” said Dinu Bors, chief operating officer of Cola.bet.

“The platform is highly customisable and grants B2B partners instant access to curated content for a plethora of markets. We’ll be rolling out several innovative features over the coming months, we’re only just getting started.”

Securing its new investment, Cola Group, which maintains a Curaçao gambling licence, detailed that it was in the process of obtaining licenses in the regulated markets of Africa, LATAM and Europe.

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