A law firm’s own lawyers sit on the shareholding register of a company that has quietly moved from the ownership chain of a Sh104.8 billion state health platform into a quarter of Kenya’s biggest betting operator while the men who built that betting brand watch their stakes evaporate to single digits, and a new gambling regulator’s licensing clock starts ticking.
A Sh1.4 billion tax bill frozen by a tribunal technicality. A Sh95 billion demand that collapsed to Sh17.5 billion. A brand that has shut down, rebranded and relitigated its way through three prime ministerial terms of Kenyan tax administration while punters staked more last year than the entire country invested in shares at the Nairobi bourse.
“I am not safe,” he wrote in one post, adding that should anything happen to him, responsibility should be placed on the MP. He said he now lives in constant fear and cannot move freely.
Multiple consent agreements, dubious shareholder expulsions, and now criminal forgery—this is the murky legal swamp from which his betting empire has emerged.
The escalating conflict, pitting prominent businessmen Ronald Karauri and Peter Mbugua against each other, threatens to destabilize the fledgling insurer and expose the murky dealings behind its inception.
The government of the United Kingdom is set to inherit Sh2 billion worth of assets held by SPS Sportsoft Limited, a gambling software and support services company which owns SportPesa. SPS Sportsoft’s top client is Kenya-based Pevans East Africa Limited which shut down it’s operations in 2019 after the Kenyan government declined to renew its […]
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