Gaming and Betting company SportPesa has threatened to close its Kenyan operations. Photo/sportpesa.comGaming and Betting company SportPesa has threatened to close its Kenyan operations should the law prescribing a 35 per cent turnover tax for the industry remains effective.
The company has said that it might move to Tanzania or the United Kingdom.
If the move is affected, tens of jobs are set to be lost.
SportsPesa Global chief executive officer (CEO) Gerasim Nikolov said the company can no longer operate profitably with the current tax caps ineffective.
“There is nowhere in the world where such a huge tax is levied on turnovers and even here in Kenya, no firm can survive today if a 35 per cent tax was put on its turnover.
"Unfortunately, the ultimate effect of us shifting operations from here will be wide considering the various business that depend on this industry,” said Mr Nikolov at a media briefing Friday.
President Uhuru Kenyatta signed the Finance Bill 2017 into law imposing a uniform 35 per cent tax on all gambling revenue .