SportPesa News: How much money does leading betting firm Sportpesa make? This is a question that most people in kenya and abroad wonder about. Well, now there’s an answer. Through a a full-page , the betting company has explained its finances and tax records to the public.
The company has claimed that in the year 2018, it collected Sh. 20 billion in revenues. It then made a gross profit of Sh. 9 billion. It paid taxes to the Kenya government worth Sh. 6.4 billion.
But a different report that appeared in the UK newspaper, The Guardian, revealed that last year alone, SportPesa made a shocking Sh. 100 billion in Kenya!
Who owns Sportpesa: Billionaires behind the multi-billion betting company
The announcement is against the backdrop of accusation on the industry’s tax commitment to the government.
A report by a multi-agency team set by the state indicated that betting companies made about Sh. 204 billion last year but paid only Sh. 4 billion in taxes.
Defending its activities, the betting firm further listed a number of social responsibility within the sports community and local communities.
The company also revealed that it invested Sh. 693 million in football, Sh. 600 million in rugby, Sh. 75million in boxing, Sh. 2.8million rally sports, Sh. 73 million in agriculture, environment conservation, water access, Sh. 57 million in education infrastructure and Sh. 41 million in community health development.
Sportpesa also listed sports activities it sponsors in the country. It says, it sponsors the Kenyan Premier League and the official title sponsor of the Federation of Kenya Football Shield tournament, which provides an invaluable opportunity for the teams to display their talent. The advert also says the company has been running an initiative called Kits4Africa that encourages football fans to donate their old kit to underprivileged, grassroots teams across Africa. SportPesa also has a sponsorship deal with football giants Gor Mahia and AFC Leopards.
These Sportpesa news come as the gaming firm’s latest defense against the cancellation of its betting license by the government of Kenya.