This archive report was first published on 15 July 2019.
Published on July 15, 2019, SportPesa has made a significant move towards financial transparency by releasing its financial records to the public.
The company has disclosed that in 2018, it collected Sh. 20 billion in revenues, resulting in a gross profit of Sh. 9 billion. Notably, it paid Sh. 6.4 billion in taxes to the Kenya government.
These revelations come at a time when the betting industry is under scrutiny for its tax commitment to the government. A recent report by a multi-agency team found that betting companies made approximately Sh. 204 billion in 2018 but paid only Sh. 4 billion in taxes.
Defending its tax payments, SportPesa has highlighted its social responsibility initiatives within the sports community and local communities. The company has invested heavily in various sports, including football, rugby, boxing, and rally sports, as well as in education infrastructure, community health development, and environmental conservation.
Furthermore, SportPesa has listed its sports sponsorship activities in Kenya, including its sponsorship of the Kenyan Premier League and the Federation of Kenya Football Shield tournament. The company has also been running an initiative called Kits4Africa, which encourages football fans to donate their old kit to underprivileged teams across Africa.
These developments come as SportPesa faces challenges related to the potential cancellation of its betting license by the government of Kenya.
