This archive report was first published on 16 July 2019.
On July 15th, 2019, the Central Bank of Kenya (CBK) sent a letter to the CEOs of all commercial banks and microfinance institutions in Kenya, alerting them to a critical issue in the betting industry.
The letter, dated July 15th, 2019, stated that the Betting Control and Licensing Board had failed to renew the operating licenses of certain bookmakers and lottery operators for the period July 1st, 2019 to June 30th, 2020.
CBK listed 27 betting firms and 6 lottery businesses that banks should be cautious when transacting with, including Sportpesa, Betin, Betway, Betpawa, Premier Bet, and Kenya Sports Bet.
The affected betting firms plan to take the matter to court, alleging that the decision by the betting board is malicious and will result in massive job losses for their employees.
