Thursday, February 29, 2024

Meet the owners of Kenya’s biggest betting platform, Betika

Betika is a well-known betting firm in Kenya, offering a variety of sports betting options and online casino games to its customers. But who owns Betika?

The company is licensed by the Betting Control and Licensing Board (BCLB) under the Betting, Lotteries, and Gaming Act, CAP 131, laws of Kenya. While there have been rumors and speculations about the ownership of Betika, the company has been tight-lipped about its ownership structure. However, recent findings have shed light on the matter.

According to revolvy.com, a website that provides information on a wide range of topics, Betika is owned by a company called Shop and Deliver.

A check on the Business Registration Service’s website reveals that Chris Mwirigi Kaumbuthu is a director of Shop and Deliver, and Roamtech Solutions Limited is a shareholder and director of the company.

The Companies Registry lists Shop and Deliver Limited as a company with a registration number CPR/2010/37880, with a nominal share capital of Sh. 100,000.00.

The company was registered on December 21, 2010, and its registered office is located on Lenana Road, Beverly Court, in Nairobi.

While the ownership structure of Betika has been a topic of speculation, the company’s popularity and success have continued to grow. Betika has built a reputation as one of the leading sports betting firms in Kenya, offering competitive odds and a variety of sports betting options.

The company has also partnered with several sports teams, including the Football Kenya Federation Premier League(FKF-PL) si and the National Super League (NSL), to promote sports and develop local talent.

In 2022, Betika was among several betting firms that were involved in a legal battle with the Kenya Revenue Authority (KRA).

The KRA had demanded to tax both the amount wagered and the amount won as winnings but a High Court judge found that tax on winnings then did not involve the amount wagered.

The taxman had hit the betting firms, including Betin, Betika and SportPesa, with notices to pay billions of shillings in taxes due, and went ahead to freeze their bank accounts.

The KRA also shut trading accounts with Safaricom’s M-Pesa, a move that saw Betin cease operations.

Justice Majanja upheld the decision of the tax appeals tribunal made in 2019 that the taxman could not collect withholding tax that ought to have been deducted by the KRA directly from the punters.

In June 2019, the KRA demanded payment of Sh. 1.7 billion from Betika, claiming it was arrears on account of the newly introduced 20 percent withholding tax on winnings.

Inside Kenyan bank where walk-in customers are not allowed

Betika responded by saying that it had complied with all relevant tax laws and had paid all taxes due. The company also stated that it had always been transparent about its operations and had nothing to hide.

Betika has continued to grow and expand its operations, despite the challenges it has faced in the past. The company has invested in state-of-the-art technology and infrastructure, allowing it to offer its customers a seamless and enjoyable betting experience.

Betika has also partnered with leading payment providers, making it easy for its customers to deposit and withdraw funds from their accounts.

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