Betting firm Sport Pesa is expected to withdraw sponsorship for local sports clubs and unions beginning January due to the 35 per cent tax on revenue. The withdrawal will begin on January 1, 2018, CEO Ronald Karauri announced during a meeting at a Nairobi hotel on Friday.
Karauri noted the cost of doing business will be affected by the finance law that President Uhuru Kenyatta signed on Wednesday, days after he had refused to over the threat of gambling. "Our cost of doing business will be greatly affected...we have to consider the impact on operating besides partnerships," he said.
Via Twitter, the firm said: "We will be giving notice to clubs and unions that from January 1 we will withdraw all sponsorships." Sport Pesa's move will affect AFC Leopards, Gor Mahia, the Kenya Boxing League and rugby teams.
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