SportPesa welcomes Matiang'i directive on betting

Betting firm SportPesa on Monday said it is ready to work with the government to ensure the full compliance of betting laws.

The firm said it welcomes the views of Interior CS Fred Matiang’i on the future of regulation in the Kenyan sports betting sector.

Matiang'i had earlier on said that no betting company will be allowed to operate from July 1 without proving it is tax compliant.

He said a tax compliance bill will soon be presented in Parliament.

Matiang'i spoke on Monday during a meeting with the Betting Control and Licensing Board.

He said some betting companies take advantage of Kenyans.

Matiang'i also raised concerns over advertisements of betting companies, calling upon the Communication Authority of Kenya to review the regime.

The CS said up to 76 per cent of youths in Kenya are involved in gambling.

SportPesa CEO Ronald Karauri echoed Matiang'i's sentiments saying, “A well-regulated industry that adopts best practice is good for government, operators, citizens and all stakeholders."

Karauri the firm remains a law-abiding citizen and, as such, confirms that it will maintain all the current regulatory standards and fully tax compliant.

Matiang'i had also directed the Betting Control and Licensing Board to scrutinise all companies and forward a report in a month.

Last year, the government announced a uniform tax of 35 per cent on gross gaming income on all sectors of the industry.

Treasury CS Henry Rotich had proposed the taxes be raised from 7.5 per cent (betting), 12 per cent (lottery) and 15 per cent (gaming) introduced in the Finance Act 2016 to a uniform tax rate of 50 per cent.

KRA commissioner general John Njiraini told the National Assembly in February that the agency collected about Sh4.7 billion in corporate tax from betting firms in the last three financial years.