Betting firm, SportPesa has announced its comeback to the Kenyan market.
On Friday, SportPesa CEO Ronald Karauri said that the betting firm which had closed shop in Kenya for a year is now back under a new BCLB (Betting Control and Licensing Board) license holder.
“SportPesa is back! I’m happy to announce that the SportPesa brand is back under a new BCLB license holder,” Karauri tweeted.
He added that in its comeback, SportPesa will focus on responsible gaming and uphold the highest standards of service in the betting industry.
Karauri also said that SportPesa will not work closely with the BCLB and other stakeholders to ensure that everything goes on well.
SportPesa’s comeback will thrust the firm into several sponsorship deals which it has said it will go down to hunt for.
“We are excited to explore a wide range of partnerships in Kenya over the coming weeks and months, which will prioritise the development of sports in communities across our Great Country!” Karauri said.
In October 2019, SportPesa shut down its Kenyan operations citing draconian taxation regulations.
When it shut down, 400 employees lost their jobs.
However, it would say that it would reconsider doing business in Kenya should the government tone down on hostility in the betting industry and ensure that there is adequate taxation for the sector.
Then, the government moved enacted a law that imposed a 20 per cent tax on all betting stakes which SportPesa and a host of other betting firms decried that it hurt their customers greatly.
SportPesa argued that with the 20 per cent Withholding Tax on Winnings, the allure of placing a bet was all gone because the taxes will deprive consumers of their total winnings.
