SportPesa to withdraw all sponsorships

Giant betting firm SportPesa is set to withdraw all its sponsorship programs in six months time.

This follows an announcement that was made by it chief executive officer Captain Ronald Karauri via Twitter on Friday.

He said:

“As @SportPesa we will be giving notice to clubs and unions that from January 1 we will withdraw all sponsorship.”

This has been interpreted as a reaction to the the signing of the Finance Bill 2017 into law. The new introduced a 35 per cent tax on all betting activities in Kenya.

SportPesa has pumped in an estimated Sh1 billion to Kenya’s sports industry through their various partnerships with Football Kenya Federation, Kenya Rugby Union, Kenyan Premier League, AFC Leopards, Gor Mahia, Nakuru All Stars and the Kenya Boxing Association.