SportPesa’s return to its home market of Kenya has been impeded following a licence suspension authorised by Kenya’s Betting Control & Licensing Board (BCLB). Following a year-long hiatus from Kenya’s sports betting market, SportPesa intended to relaunch its betting services this weekend under a licence held by new operating firm ‘Milestone Bet’. Prior to its planned re-launch, SportPesa CEO Ronald …
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Leading Kenyan bookmaker SportPesa has issued a statement to media and its corporate stakeholders underlining that its business will not be ‘shut down’ by Kenya’s current hostile agenda against licensed betting incumbents. A turbulent week saw Kenyan betting grab global business headlines as the Uhuru Kenyatta government instructed a number of national departments to undertake the strictest of enforcements against gambling …
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East African betting group SportPesa faces turbulent times in its home market of Kenya, as the Kenyan Revenue Authority (KRA) demands that the company pays back its KSH multi-billion tax arrears. In 2018, the KRA filed a KSH 10.3 billion (€80m) demand against ‘Pevans East Africa‘ the holding company of SportPesa Kenya, stating that the bookmaker had purposely withheld taxes …
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Business Daily Africa has reported that the Kenyan Revenue Authority (KRA) has placed a demand for a minimum KSH 10.3 billion (€80m) on market-leading bookmaker SportPesa, attached to backdated taxes spanning a period of three-years. The KRA tax charge has been filed against SportPesa’s private entity ‘Pevans East Africa’, stating that the betting group had withheld taxes that should have …
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Ronald Karauri, Chief Executive of Kenyan betting group SportPesa has moved to quash rumours that his firm will seek an IPO in 2019. On Thursday, citing unnamed sources, Bloomberg and Reuters Africa reported that Karauri and SportPesa investors were planning to list Kenya’s leading bookmaker as a Nairobi Securities Exchange (NSE) enterprise. Speculation had mounted within the Kenyan business community …
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Kenyan news sources report that SportPesa expects to end its blackout of sports sponsorships, despite its ongoing betting tax dispute with the Uhuru Kenyatta government. Entering 2018, SportPesa Chief Executive Ronald Karauri withdrew all active sports sponsorships, following through on his previous warnings to Kenyan Parliament which had implemented a blanket gambling tax revenue charge of 35% (previous 7.5%). SportPesa’s …
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Following the termination of all SportPesa Kenyan sports sponsorships, Chief Executive Ronald Karauri has defended his firm’s position against MP backlash. Entering 2018, Karauri ordered SportPesa to suspend all active sports sponsorships in protest of the Kenyan TNA government’s blanket 35% tax hike on betting and lottery services. During 2017 High Court hearings, Karauri had previously warned the government that …
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The Football Kenya Federation (FKF) faces a funding crisis as bookmaker SportPesa has terminated all Kenyan sports sponsorships, due to the government upholding its 35% blanket tax charge on betting and lottery services. This January, the Kenyan TNA government will move to implement its much protested 35% industry tax hike, which has been deemed as ‘unworkable’ by Kenya pro-betting stakeholders. …
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Kenyan sports betting operator Sportpesa has announced that it will end all forms of sponsorship with national sports clubs and bodies, as the operator deems Kenya’s 35% betting/gambling tax to be unworkable. This weekend Sportpesa CEO Ronald Karauri detailed to Kenya news sources, that his firm would suspend all sponsorships with sports stakeholders from January. Speaking to local press, Karauri …
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Kenyan sports betting operator SportPesa will seek to expand its commercial footprint in East Africa by launching its services and operations in neighboring Tanzania. This week, SportPesa governance confirmed that the company had been granted an operational licence by the Gaming Board of Tanzania (GBT). Kenyan business news sources report that SportPesa governance has been reviewing its growth strategy following …
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