Thursday, February 9, 2023

Tag: Kenya

Kenya’s 20 percent excise duty makes a come back

Kenya regulation tax excise duty on betting
Kenya’s treasury has reintroduced the controversial 20 percent tax on wagers, which caused furore among the nation’s operators in 2019, via its 2021 Finance Bill.

Kenya gambling ad spend plummets through 2020

Kenya Gaming Gambling Advertising
Spending on advertising and sponsorship by betting groups in Kenya fell 68 percent through 2020, as firms reel from the twin impact of covid and tighter marketing rules.

Sportpesa’s international footing in doubt as UK agents resign

As Sportpesa remains mired in legal challenges over the potential mismanagement of corporate funds at home, it fails to submit its financial returns by the end of 2020 deadline in the Isle of Man - where two key service providers have now cut their ties

Mobile money: the secret to East Africa’s gaming boom

M-Pesa mobile money east africa
While the future apex of African gaming may well be with the mega-markets of Nigeria and South Africa - Eastern states have to date far outshone them in terms of growth.

Regulator ‘leak’ reveal extent of Kenyan betting market

Kenyan regulator document leak
A document said to have been leaked by the Kenyan gambling regulator reveals sports bettors placed around Sh30.6bn ($300m) in wagers in a single month last year.

Betcentric African businesses hit hard by covid closures

Africa businesses hit gambling covid-19
Retail-reliant and sport-centric African gambling markets are struggling to switch players into novel sports and products through covid-related closures - even where regulation permits

Is perennial exile Kenya killing Sportpesa?

The Nairobi-listed bookmaker, Sportpesa, has had a series of high-profile sponsorship deals terminated already this year, as its longed-for return to the..

Kenyan tax ruling puts Sportpesa back in play

Sportpesa Kenyan Tax
Yet another twist in the Kenyan saga sees an appeals tribunal rule in favour of the ousted bookmakers, Sportpesa and Betin, over the controversial..

Sportpesa, Betin exit Kenyan saga citing ‘hostile’ environment

sportpesa kenya betin
Kenya’s leading bookmakers, Sportpesa and Betin, both close down operations in the market after MPs vote to add a 20 percent tax on stakes - on top of the..

Kenyan football dragged into tax disputes as Sportpesa pulls sponsorships

As tax disputes between between the Kenyan government and gambling companies drag on, so too is the country’s football league getting dragged down..

Kenyan ‘clean-up’ leaves top firms locked out

A series of escalating enforcement measures from the Kenyan government throughout July has left many of the country’s biggest betting firms locked out of..

Kenyan government announces fresh assault on betting industry

Kenyan betting tax
Kenya’s prime minister is attempting to forge ahead with a three-pronged attack on gambling that includes hefty taxes levied on operators, sweeping..

Online study reveals Kenya’s betting buzz

Kenya, Online, study, betting, buzz
A survey compiled by Hootsuite and We Are Social has revealed that 11 out of the top 20 Google searches made by Kenyans during 2018 were related directly to betting. The findings complement a similar report by Geopoll

1xBet: No future for mediocrity in African betting

1xBet Kenya Anton Ogonyan
iGaming Times caught up with managing director in Kenya, Anton Ogonyan, about 1xBet’s growth in the region.

Transactional analysis: Kenya vs Nigeria

gambling, Kenya, Nigeria, betting, analysis
A new report shows betting was the second most occurring digital transaction in Kenya last year, second only to airtime purchases. The report, “Kenya Vs. Nigeria, 2018 Year In Review,” conducted by Reach Technologies, analysed urban African consumers…

BiG Africa Supershow 2019 – Only 2 Months to go

BiG Africa Supershow, eventus, kenya, gambling
According to ventures Africa, the combined size of the gambling industry in Kenya, Nigeria, and South Africa was projected to be worth a staggering $37 billion in 2018. One of the great things about the African market is that it’s mostly African

Why the African gaming sector is BiG business in 2019 – BiG Africa Supershow 2019

BiG Africa Supershow, Nigeria, kenya, events
In 2015, PwC South Africa’s senior manager; Sanchia Temkin reported in the annual gambling sector outlook that gaming industry revenues are expected to make a massive rise to R30 Billion (USD$2,17 Billion) in 2019. In later editions of the report in 2017 drafted

BetLion leaps into “huge opportunity” of Kenyan market

KENYA, BetLion, gambling, SportPesa, Betway, Africa
BetLion has launched a betting operation in Kenya, after receiving approval from the Kenyan Betting Control and Licensing Board to enter the country’s $351m online industry. The Ugandan operator will now provide its mobile-focused product offering

Kenya responds to operator pressure with tax decrease proposal

KENYA, TAXATION, Kenyan National Assembly, politics
Kenyan National Assembly Majority leader Aden Duale has tabled a bill to reduce the widely-criticised 35 percent tax on gambling operators introduced on 1 January this year. If approved by Parliament, the tax will be capped at 15 percent, a significant...

Kenyan operators punished as government overturns proposed tax reduction

The recommendation by Kenya’s National Finance and Planning committee to reduce tax paid by gambling operators has been dismissed by the country’s parliament. The proposal, made as part of an appraisal of the Finance Bill 2018…

Kenyan authorities propose tax relief as film board plans bans

Kenya’s National Finance and Planning committee has recommended a reduction in tax for gambling operators as part of an appraisal of the Finance Bill 2018. Originally proposed in June as part of the Tax Laws (Amendment) Bill 2018, the committee has endorsed a reduction of the 35 percent tax rate imposed by president Uh

Kenya’s beleaguered betting market still proves lucrative investment

A study by the Capital Markets Authority has stated that Kenyan investors are shunning traditional long-term return prospects in favour of the country’s rapidly growing sports betting market. The autonomous regulatory body compiled the Low…

Kenya threatens deportation to illegal gambling operators

The Kenyan government has threatened to immediately deport any gambling operators found to be involved with the importation of Chinese-built gaming machines. Interior cabinet secretary Fred Matiangi outlined the proposal during a ceremonial bonfire…

Kenya rejects hybrid tax system, upholds 35 percent regime

Controversial proposals for a betting tax cut to 15 percent - supplemented by a 20 percent tax on winnings - appeared to offer some hope to struggling firms. Having now been rejected by legislators, Toddy Thairu, tax manager at KPMG Kenya, argues that the industry…

Nazara expands into Kenyan real-money market

Mumbai-based Nazara Technologies has established NZWorld Kenya Ltd, in order to capitalise on high demand for real-money betting in the country. The social and mobile gaming operator controls 70 percent of the subsidiary, approved by the Kenyan Betting Control and Licensing Board earlier this year, with its local partner holding the remaining 30 percent. Nazara CEO Manish Agarwal said real-money gaming...

SportPesa named Kenya’s most popular platform amid East African growth

Sportspesa IGT
A report by consumer research firm Nielsen has revealed SportPesa to be the most popular online betting platform in Kenya. The study, entitled Understanding the East African Consumer, recorded that 82 percent of Kenyan gamblers subscribe to SportPesa. The report went on to show 40 percent of players are registered through Betin, 22 percent through Elitebet, with Betika and Mcheza each...

SportPesa named Kenya’s most popular platform prior to sponsorship return

A report by consumer research firm Nielsen has revealed SportPesa to be the most popular online betting platform in Kenya. The study, entitled Understanding the East African Consumer, recorded that 82 percent of Kenyan gamblers subscribe to SportPesa. The report went on to show 40 percent of players are registered through Betin, 22 percent through Elitebet, with Betika and Mcheza...

BtoBet report: ‘Clear growth’ for mobile market in East Africa

sports betting east africa kenya gra
  With a population of 1.26 billion people, Africa is the second most populous continent in the world. It is crucially a young continent, with 67 percent of its population under the age of 35, with the working population expected to grow exponentially to reach the 450 million mark over a span of 20 years.   As BtoBet’s latest Industry Report outlines,...

SportPesa told Kenyan tax hike ‘non-negotiable’

sportpesa kenya
The fallout from Kenya’s new 35 percent gambling tax continued in January, with the Pambazuka National Lottery suspending operations, and resident betting giant SportPesa accused of blackmailing the government by withdrawing sponsorship from local sport. SportPesa has reiterated its vow to continue appealing the new tax, which PwC says is the highest in the region. However, deputy prime minister William...

Kenya slams operators with five-fold tax hike

Kenya Tax rate
Kenyan gaming operators jumped out of the frying pan last month, when narrowly escaping a uniform 50 percent tax rate on all gambling activity, only to find themselves burnt by a second vote which demands 35 percent of all sales.   The sense of relief had been palpable when MPs originally voted against the President Uhuru Kenyatta’s draconian proposals for a...