Sony is making a move into Africa’s gaming industry by investing in Carry1st, a Cape Town-based company. This investment is part of Sony’s $10 million Sony Innovation Fund:Africa, which was launched in October 2023 to support early-stage startups in the African entertainment sector.
Cordel Robbin-Coker, CEO and co-founder of Carry1st, believes that Africa is a promising market for companies like Sony to tap into, as they look for the next billion customers and gamers. Currently, consumers in Africa are purchasing consoles through unofficial channels or from vendors who import consoles from overseas.
Sony’s strategic investment aims to capitalize on this growing market and the increasing adoption of consoles, particularly in countries like Nigeria, Morocco, and Algeria. The partnership with Carry1st will also leverage the company’s localized payment solutions for digital game purchases, further expanding PlayStation’s presence in Africa.
Carry1st has already raised $60 million from investors such as Andreessen Horowitz, BITKRAFT Ventures, Google, Riot Games, and rapper Nas.
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The company collaborates with major gaming companies like Activision, Supercell, and Riot Games to bring popular franchises like “Call of Duty: Mobile” and “Valorant” to Africa. Despite being in the early stages, Carry1st has shown impressive growth, with revenue increasing nine-fold between 2021 and 2023.
The startup plans to launch original titles in 2024, indicating its growing influence in the African gaming market. This investment by Sony highlights the commercial potential of the African gaming market and should be carefully considered by tech investors focusing on Africa.
