Super Group has announced its plans to launch Super Coin, a rand-pegged stablecoin on the Solana Blockchain for the South African market, during its Q3 2025 earnings calls.
The company expanded into Africa in 2015, after which it has enjoyed growing prominence and currently operates in eight African countries.
Across these countries, Super Group holds a podium position in seven out of the eight African countries it operates in, with Nigeria being the only exception, primarily due to regulatory issues encountered.
The company has not only witnessed impressive growth in terms of expansion and adoption but also in revenue. The Q2 earnings reports revealed that Africa and the Middle East account for 40% of its total revenue. The recent Q3 earnings reports also reflect a similar outlook, as the African region experienced 36% growth, with Botswana, Malawi, Tanzania, and South Africa in the lead.
The decision to adopt cryptocurrency was initially mentioned during the Q2 earnings calls, where Neal Menashe, the CEO, confirmed Super Group’s plan to develop crypto payment capabilities in Africa, noting the payment challenges encountered in the region.
“In the African side of our business, we have a banking issue there. I think crypto and coins can make a huge difference because banking is a really big cost in Africa, especially for us onboarding customers and then payments across the continent.”
“That’s our great long-term play. I think it aligns with our strategy, especially on the processing side. If we can do something clever there, which we’ve got some ideas on, it effectively will bring pure profit to the bottom line.”
During the Q3 earnings calls, the CEO was asked about the payment costs in Africa and other markets.
He responded, stating that the costs of payments were significantly higher in Africa compared to other markets.
He noted further that the initiative behind the launch of Super Coin is to reduce these costs over time, which will, in turn, enhance customer experience and improve customer retention.
The stablecoin would be launched in partnership with Luno, the largest cryptocurrency exchange in South Africa.
According to Neal,
‘This new South African rand-pegged stablecoin is designed to deepen customer loyalty, reward engagement, and enable cross-platform benefits across the Super Group Ecosystem.’
Growing Stablecoin Market in South Africa
There is a growing market for stablecoin adoption in South Africa with the launch of rand-pegged stablecoins, ZARP and ZARC, and most recently, yZar, South Africa’s first yield-bearing stablecoin pegged to the rand.
Super Group’s initiative to introduce another rand-pegged stablecoin could help expand stablecoin adoption within the country by onboarding its millions of customers.
Stablecoins are rapidly gaining the attention of institutions, particularly those operating in Africa, as a solution to overcome payment hurdles and enable faster settlement times.
