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In Nigeria, 60 million individuals aged between 18 and 40 spend up to USD$5 million on sports betting daily. The majority are unemployed or underemployed young people who stake a median of USD$eight.40 daily. The proliferation of betting is among the unintended penalties of the growth in cell cash providers which have taken off on the again of a drive for financial inclusion. Since 2014 cell phone platforms have been fronted as the key to bettering financial inclusion on the continent.
Although the apps and brokers promise “forex.... [Read more…]