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SportPesa fires all its employees days after terminating operations

Betting firm Sportpesa has sent home all its 400 employees after it lost battle with government over renewal of its licence.

The move comes days after the company halted operations in the country citing unfavorable conditions for business.

SportPesa Chief Executive Officer Ronald Karauri disclosed the decision to staff members in a meeting called earlier on Wednesday, October 2.

Last week, the beiiting giant said it was disappointed with the decision by the Kenyan Parliament to impose a 20% tax on all betting stakes.

The tax is based on a fundamental misunderstanding by the Rotich-led treasury of how revenue generation works in the bookmaker industry. This decision will have a damaging impact on both customers and treasury,” the firm said in a statement.

Further compounded by the currently in-effect 20 percent withholding tax on winnings, the economic incentive to place bets will be completely removed as the taxes will deprive consumers of their total winnings,”it said.

Another betting firm Betin has already sent a notice of termination to all its staff on grounds that it has not been operational since July 2019.

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