A Kenyan entrepreneur is capitalizing on the booming gaming market, providing local users with opportunities to earn revenue while enjoying themselves. This initiative coincides with a notable shift in Kenya’s online gambling sector, which is integrating cryptocurrency and various payment methods.
Eliud Gilish, founder of Candy Kash, aspires to establish a multi-billion-dollar company listed on global stock exchanges, aiming to set a new standard in the gaming industry. “Candy Kash envisions becoming a global leader in gaming. Our plans include expansion across Africa and beyond, with a goal to revolutionize skill-based games by blending entertainment with financial rewards,” said Gilish.
Gilish, a seasoned innovator who gained recognition in high school for developing a weapon detector, emphasizes the importance of understanding market dynamics to stay ahead in the industry. According to a report by Newzoo, Kenya ranks sixth in mobile gaming spending on the continent for 2023.
The Global Games Market Report indicates that 3.4 million Kenyans spent approximately $39.8 million (Sh5.2 billion) on gaming activities. Nigeria leads the continent with 14.7 million gamers spending $229.7 million (Sh29.9 billion), followed by Egypt, where 20.2 million gamers spent $212.6 million (Sh27.6 billion).
HF Markets notes that the rise of cryptocurrency in online gambling has been transformative, offering increased security and anonymity. This trend positions Kenya’s online gambling market for significant growth, with projections nearing $100 million (Sh13 billion) by 2024.
The number of online gamblers in Kenya is also anticipated to grow, with Statista estimating 402,000 online sports betting users and 85,000 online casino users by 2029. Founded during the 2020 lockdown, Candy Kash allows players to convert their gaming skills into real money through competitive play.
Recognizing the potential of mobile gaming during the global lockdown, Gilish aimed to create a platform for gamers to monetize their skills. He also encourages Gen Z in Kenya to harness creativity and technology to address challenges and foster economic growth.
Gaming for Profit: How Candy Kash is Transforming Kenya’s Online Market
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