Monday
July 15
2019

Kenyan Betting Firms Say Payment Systems Suspended Following Government Order

Kenyan betting firms SportPesa and Betin Kenya said on Friday their payment systems had been suspended, days after the government ordered telecoms firm Safaricom to stop processing payments for sports betting companies.

Online sports betting companies such as SportPesa have grown rapidly in the East African nation in recent years, riding a wave of enthusiasm for sports to achieve combined revenue of 204 billion shillings ($2 billion) last year.

However, that has sparked government concern about the social impact of betting. In May, the country introduced new gambling regulations, including banning advertising outdoors and on social media.

Source: Reuters (link opens in a new window)

Categories
Finance, Technology
Tags
emerging markets, public policy, regulations, social media