SportPesa Closed Again

SportPesa CEO Ronald Karauri

SportPesa has halted its operations in the country while Betin Kenya has fired all its employees

SportPesa, in a statement to newsrooms, cited hostile regulatory environment as the cause of exit from the Kenyan market.

“The tax is based on a fundamental misunderstanding by Rotich led treasury of how revenue in the bookmarker industry. This decision will have a damaging impact on both customers and treasury” a statement from the firm says.’

It said: “Until  such time that adequate taxation and non-hostile regulatory environment is returned, the SportPesa brand will halt operations in Kenya”.

Betin, on the other hand, issued a notice of termination to all its employees effective 31st October.

The firm said the termination was occasioned by the fact that they have not been in operation since July 2019 which has affected their revenues.

“As a result of the deterioration of the profitability, the management has had to rethink its operational model to proceed with the exercise of termination on the account of redundancy” it stated.

Sportpesa and Betin were among the 27 that had their trading licences revoked by the government in July over alleged tax evasion.

More to follow…

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