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SportPesa faces Sh30bn money laundering probe

SportPesa’s CEO Ronald Karauri.

Photo credit: File | Nation Media Group
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By  Victor Juma

What you need to know:

  • The Financial Reporting Centre will seek to establish if the billions of shillings earned from the online betting craze in Kenya were declared to BCLB.
  • The agency will also probe whether SportPesa paid taxes on the Sh30 billion that is said to have been transferred to tax havens of Isle of Man, Canary Islands as well as Dubai over a three-year period.

A State agency charged with tracking illicit money is investigating SportPesa for possible money laundering in the wake of claims the sports betting firm wired $278 million (Sh30 billion) from its local accounts to offshore banks.

The Financial Reporting Centre (FRC) will seek to establish if the billions of shillings earned from the online betting craze in Kenya were declared to the gaming regulator, the Betting Control and Licensing Board (BCLB).

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