Betway’s Kenya license reinstated after agreeing to new tax terms

Business News

Betway Kenya has announced the restoration of its services following clearance by the Kenya Revenue Authority and subsequent issuance of an operating license by the Betting Control and Licensing Board.

In a statement on Thursday, Betway said that it has relentlessly worked with relevant authorities and is glad to have been recognised for its strict levels of compliance having fulfilled requirements by BCLB and other relevant government bodies.

“To uphold full compliance with taxation laws, Betway will be deducting 20 per cent withholding tax from winnings in accordance with the law,” the company said in a statement.

This will be clearly displayed on individual bet slips to ensure transparency and for ease of understanding by the punter and the collected tax will be remitted directly to KRA on behalf of punters.”

Betway said that it continues to advocate responsible betting through a campaign that has been running on its social media pages dubbed ‘Bet the Responsible Way.’ 

In addition to this, the company has instituted measures to ensure only individuals that are of age can register and enjoy the services offered in their betting platform.”

Betway said that it remains committed to community sport development cutting across different sport disciplines such as football, volleyball, basketball and golf.

The company said that several teams have benefited from kits and infrastructural development in its three years of operations and more will benefit through the companies’ CSR initiatives that target communities in need of support.

“We take this opportunity to thank all our customers and stakeholders for their patience and loyalty to our brand throughout this journey,” Leon Kiptum, Betway Kenya Country Manager said in the statement.