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Betting firms spared 50pc local shareholding plan
A betting spot in Nairobi. Betting gained prevalence in Kenya, which saw the industry expand on the back of mobile payments and digital applications, creating a multibillion industry. FILE PHOTO | NMG
Parliament has rejected State’s bid to compel betting firms to cede at least 50 percent of their shareholding to Kenyans.
The Interior ministry had sought to change the Gaming Bill to ensure that the Betting Licensing and Control Board (BCLB) only grants or renews operating licences for foreign betting firms where Kenyans own at least 50 percent of the shares.
