Saturday, June 15, 2024
Home > Featured > Kenya Betting Firm To Meet M7, Set Up Shop In Uganda
FeaturedNews

Kenya Betting Firm To Meet M7, Set Up Shop In Uganda

Betting firm SportPesa is set to meet Uganda President Yoweri Museveni as it inches closer to setting shop in the neighbouring country following its Tanzania entry on March 9.

Mr Museveni last week sent a high-powered government delegation, led by Youth minister Nakiwala Kiyingi, to Nairobi to meet Sportpesa Kenya chief executive Ronald Karauri.

Ugandan government, Ms Kiyingi said, was willing to give the deep-pocketed betting firm, which is battling a 35 per cent tax on its revenue in Kenya, special incentives.

Uganda charges 35 per cent tax on net profit and not revenue. Before June 21, lotteries were taxed at 5 per cent, betting firms ( bookmakers) at 7.5 per cent, casino gambling at 12 per cent and competitions such as raffles at 15 per cent.

SportPesa will also help boost sports sponsorship.

SportPesa chief executive Ronald Karauri (above) said the firm has also been invited to help develop a regulatory framework for the gaming and betting industry in Uganda.

“Just like the teething problems we have in Kenya, Uganda also have an influx of illegal gaming players. We are more than ready to help the Ugandan government streamline the sector, now that they have officially invited us for a series of meetings in Kampala,” Karauri said.

AGENCIES

Leave a Reply

Your email address will not be published. Required fields are marked *