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Kenya to introduce new tax regime for online gambling

Niji Narayan

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Kenya to introduce new tax regime for online gambling
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The Kenyan government has announced that it is going to implement a new tax regime, especially for online and mobile gambling.

The Kenya Revenue Authority (KRA) has said that the new taxes will come into force in this July. The government is hoping to collect €463.2 million by the end of the year from gamblers and mobile money users. KRA commissioner-general John Njiraini hinted at a 10 per cent tax on mobile phone-based payments.

Mr. Njiraini added that the authorities have projected they’ll miss the annual tax collection target set by the Treasury by €963 million by next June 30.

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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Africa

Vermantia to unpack bespoke solutions at SBWA 2019

George Miller

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Vermantia to unpack bespoke solutions at SBWA 2019
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Content and technology provider primed to grow African footprint

 

Vermantia, a leader in omni-channel content solutions, is set to showcase its range of bespoke products and services at Sports Betting West Africa (SBWA) 2019, which takes place from 23-25 July in Lagos, Nigeria.

Taking pride of place at the supplier’s stand #1017 will be its Ultimate Live Greyhound Channel, which offers a compact daily schedule of top-quality, fast-paced greyhound racing from the UK, Australia and the US, enabling betting on over 40,000 live races annually for a wide range of markets.

The display will also feature top performing virtual number games, available to African operators through Vermantia’s plug-and-play service.

Powered by the supplier’s CONNECT platform, both services are tailored to local betting requirements and delivered to Africa through Vermantia’s market leading satellite broadcasting, with a fully integrated Bet Acceptance System and Cashier to support wagering options.

Alongside this, African operators will be able to sample Vermantia’s new breed of cost-effective self-service betting terminals, specifically designed for African markets. Bundled with both card and mobile payment solutions as part of the plug-and-play betting environment, its SSBTs unlock a world of opportunities and customer convenience

Spyros Stavropoulos, Regional Director for Africa at Vermantia, said: “Our range of revenue generating live racing content, virtual number games as well as our cost-effective self-service betting options are primed for the African market.

“We are very glad to showcase our tested products and new releases in Africa for a third consecutive year and we look forward to hosting our friends and meeting new ones.

Vermantia aims to empower operators in the region through access to the best in terms of both content and technology, offering tailored solutions to our partners to ensure what they offer meets the betting needs of their local market. “

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Africa

Kenya Orders Safaricom to Shut Down Betting Payments

Niji Narayan

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Kenya Orders Safaricom to Shut Down Betting Payments
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Kenya has ordered Safaricom, the leading telecommunications company in Kenya, to stop processing payments for sports betting companies.

Liti Wambua, Acting Director of the Betting Control and Licensing Board, told Safaricom that the licences for all 27 betting firms had not been renewed.

Wambua said that such payments should stop pending the outcome of an ongoing inquiry about their suitability to operate in the country.

“Consequently, we request you to suspend their pay-bills and short codes until otherwise advised,” Wambua said.

Safaricom said that it required time to carry out the order since abrupt implementation would result in shutting millions of users out of funds already deposited in the gaming wallets of the various betting firms.

“The directive by the board will impact over 12 million customers,” Safaricom said.

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Africa

BtoBet Emphasises Importance Of Payment Systems in West Africa in Industry Report

George Miller

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BtoBet Emphasises Importance Of Payment Systems in West Africa
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Leading iGaming platform provider publishes Industry Report with focus on the Nigerian industry

 

With operators in the more mature European market facing stiff challenges in terms of regulatory upheavals and market growth somewhat plateauing, Africa has been one of the major emerging markets attracting operators’ interest seeking to diversify their operations. But in a continent where the technological sector is still earmarked by many as having significant shortfalls, West Africa and especially Nigeria, is registering significant year-on-year improvements in terms of internet and smartphone penetrations, laying a solid foundation for an exponential growth for the local iGaming industry.

However as BtoBet’s latest Industry Report analyses, online sports betting is booming largely thanks to payment systems developed by home-grown technology firms that are starting to make online businesses more viable. The payment gateways integrated in the more advanced iGaming platforms are not only resulting in faster digital payments, but have also helped to ease fears of electronic fraud, thus contributing in a shift towards online transactions, much in the same way that Safaricom’s M-Pesa money transfers have changed the scenario in which transactions are carried out in Kenya.

As stated by Alessandro Pizzolotto, STM Gaming’s CEO – with the company being BtoBet’s regional Certified Partner for Africa – “not only is the country registering a constant increase in terms of internet and smartphone penetration, but investments in the fintech sector has seen the business thrive.” He further stated that all indications are pointing to a massive potential for online penetration and expansion. “All this coupled with the fact that the local regulatory framework is one of the most robust in the region, and the local population being very passionate about sports in particular football and major European leagues, have resulted in a significant growth of Omnichannel operators in the market.”

BtoBet will be flying to Lagos for the Sports Betting West Africa summit to meet with local and international licensees keen on expanding their footprint in the continent. Schedule a meeting to meet with our team of local experts by sending an email on sales@btobet.com.

Operators can also download BtoBet’s latest Industry Report – West Africa: Driving the local iGaming industry – to have a better insight regarding the requirements and knowledge needed to become a leader in the local iGaming industry.

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