NAIROBI. KENYA: Betting firm Sportpesa has withdrawn all its sponsorship to sports related activities starting Monday citing high taxation by the Government.
Sportpesa CEO Ronald Karauri broke the news through his Facebook page: ” Effective immediately, SportPesa has withdrawn all their sponsorship commitments having lost the case against the government’s proposed tax.”
Karauri however stated the company will remain operational in the country, ” SportPesa will however continue its operations in Kenya.”
The move will adversely affect many sports federations in the country among them Kenya Rugby Union KRU, Kenyan Premier League KPL, Kenya Basketball Federation KBF, Gor Mahia and AFC Leopards.
This comes barely a week after the High Court upheld the decision by the Government to tax all betting firms 35 percent, a decision challenged by the companies.
The Government through the sports ministry however has called for a dialogue with all sports stakeholders and the betting companies to seek redress.