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Kenya may reduce gambling taxes

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Kenya may reduce gambling taxes
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Kenya’s inconsistent gambling policy could take another U-turn if the new tax proposal is approved. Kenyan President Uhuru Kenyatta reportedly declined to sign the new Finance Bill, 2018, which proposes a new gambling tax regime of 35 per cent. The president returned the bill to the parliament to revise the proposals. The president, reportedly, wants a gambling tax rate of 15 per cent.

For starters, here is a summary of Kenya’s summersaults in gambling tax rate. President Kenyatta himself signed legislation in June 2017 that boosted gambling taxes from as low as 5 per cent (for lotteries) and 7.5 per cent (for betting operators) to a new uniform 35 per cent rate for all gambling products. The new rate officially kicked in on January 1.

Since Kenyatta signed on the bottom line, gaming companies have fiercely lobbied legislators to reduce their tax rate to something they believe does not make their Kenyan operations unworkable. Two such reprieve efforts have already gone down to defeat, including an amendment to the Finance Bill that was rejected earlier this month.

Kenya’s Treasury Secretary had originally sought a truly nutty 50 per cent gambling tax and the 35 per cent rate was a compromise measure proposed by Kenyatta himself. Kenyatta previously resisted efforts to keep taxes at their earlier rates due to his stated desire to curb Kenyan youth’s gambling participation. It is unclear what might have prompted Kenyatta’s current about-face on this issue.

Business Daily quoted a National Assembly legislator familiar with the contents of Kenyatta’s memo saying there was little appetite in parliament for reopening the gambling tax debate due to the “social impact” of gambling. “This is where we are going to differ with the president.”

The anonymous parliamentarian failed to mention the impact that the tax hike has had on local sports bodies, as large betting operators such as SportPesa cited the tax hike as justification for scrapping its existing sports sponsorships, then renewing some of these deals at reduced rates.

Compounding matters, local sports bodies are complaining that the government has yet to release the portion of the Sh8b (US$79.3m) in new gambling taxes collected that are supposed to help fund their operations. The Standard quoted Sports Cabinet Secretary Rashid Echesa saying that the treasury is waiting for parliament to approve the release of the funds.

 

Source: CalvinAyre

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Africa

Nolimit City Celebrates South Africa Debut

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Nolimit City Celebrates South Africa Debut!
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Nolimit City, the innovative slot developer known for its boundary-pushing games, announced its official entry into the South African market. This strategic move strengthens Nolimit City’s global footprint and brings its unique entertainment brand to a vibrant new audience.

The South African launch, made possible through Evolution’s One Stop Shop integration platform, enables local players to enjoy Nolimit City’s most popular titles, promising a high-standard experience for South African players. These include San Quentin xWays, Deadwood xNudge and Fire In The Hole xBomb amongst an ever-growing array of fantastic titles.

This announcement comes off the heels of their recent entry into Switzerland earlier this month and sets the tone for the rest of the year, with the provider eyeing further expansion in new markets throughout 2024, and beyond.

Malcolm Mizzi, Commercial Director at Nolimit City, said: “We’re thrilled to bring the adrenaline-fueled excitement of Nolimit City games to South African players. This marks a major milestone in our worldwide expansion, and we’re committed to delivering the best possible gaming experience to this dynamic market.”

Dean Finder, Chief Executive Officer at Evolution Services SA, said: “South African players, get ready for the exhilarating world of Nolimit City games! Their arrival is a game-changer in our market, and we’re dedicated to providing a top-notch, action-packed slot experience Nolimit is famous for.”

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Africa

NSoft Unveils Revolutionary Crash Cash Game in Admiral Bet Uganda Retail Shops

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NSoft Unveils Revolutionary Crash Cash Game in Admiral Bet Uganda Retail Shops
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NSoft, a leading software solutions provider for the betting and gaming industry, is thrilled to announce the launch of its innovative Crash Cash games in Admiral Bet retail betting shops across Uganda.

This groundbreaking move marks a significant milestone in NSoft’s strategic expansion into the African market, particularly in the realm of retail crash games, in partnership with the esteemed Admiral Bet brand.

By transitioning this popular online gaming concept to the retail environment, NSoft is set to revitalize the retail betting sector, which has faced challenges such as limited space and outdated equipment, hindering its ability to offer fresh gaming experiences.

NSoft is redefining the retail betting landscape with the introduction of Crash Cash. Unlike anything currently available in retail betting, Crash Cash is designed to disrupt and innovate with its state-of-the-art infrastructure, providing a seamless, visually engaging experience for players.

The game is enhanced by NSoft’s proprietary Boost Gamification System, offering unique features that set it apart in a competitive market.

Crash Cash’s simplicity and accessibility are key to its appeal. The game’s straightforward mechanics ensure that it is easily understandable and enjoyable for players of all experience levels, making it a perfect fit for the fast-paced retail environment where engaging and quick-to-learn games are highly valued.

With this innovative offering, NSoft is not only aiming to captivate players but also to establish a new benchmark in retail gaming experiences.

The company’s deep understanding of the retail gaming market, combined with its commitment to innovation, positions Crash Cash as a game-changer that will attract new customers and redefine what is possible in retail betting.

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Africa

1Stop Translations Partners with Suss Ads

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1Stop Translations has entered into a strategic partnership with Suss Ads, a leading Kenyan technology and marketing services provider. The partnership aims to offer iGaming companies entering the African markets a seamless entry into the continent.

This partnership will integrate the expertise of 1Stop Translations in the field of translations and international digital marketing with that of Suss Ads.

Nicola Pansini, Sales and Marketing Manager at 1Stop Translations, said: “We are proud to announce this agreement between 1Stop Translations and Suss Ads, because the two companies have a common goal: to provide their customers with the ​​best possible service in terms of quality and results. With this partnership, the two companies have integrated their service offering, becoming the point of reference for all companies operating in the iGaming and betting sector and looking for effective marketing solutions to expand their business in the African market.”

Dennis Maina, Managing Partner at Suss Ads, said: “We are excited to join forces with 1Stop Translations. This partnership will seamlessly integrate the expertise of 1Stop Translations in translations and international digital marketing with our own specialization in Programmatic Ads and SMS advertising campaigns. Together, we will offer a comprehensive solution that leverages technology and linguistic proficiency to empower our clients to reach and engage with their target audience effectively in the African market and beyond.”

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