Khusoko – East African Markets
    Facebook Twitter Instagram
    Khusoko – East African MarketsKhusoko – East African Markets
    • NEWS
    • ECONOMY
      • BANKING & FINANCE
      • COMPANY
      • MARKETS
    • INDUSTRY
      • AGRICULTURE & ENVIRONMENT
      • HEALTH & WELLNESS
      • PROPERTY
        • RETAIL
      • TECHNOLOGY
        • ELECTRONICS
    • ENTREPRENEURSHIP
      • ENTREPRENEURS
      • PEOPLE
      • PERSONAL FINANCE
    • SPORTS
    • COMMENTARY
    • ARTS & CULTURE
      • BOOKS
      • ENTERTAINMENT
      • FAMILY & RELATIONSHIPS
      • FASHION & STYLE
      • FOOD & DRINK
      • TRAVEL & LEISURE
    Khusoko – East African Markets
    SPORTS

    No Comeback For SportPesa as Giant Firm Issues New Letters to Staff

    KhusokoBy Khusoko2019-11-01Updated:2019-11-01No Comments2 Mins Read
    SportPesa CEO Captain Ronald Karauri

    Hopes that giant betting firm SportPesa was planning a comeback to the business were thwarted on Friday after staff received redundancy letters.

    A day earlier, the firm had informed its over 400 staff members that there would be a meeting and the reports had been interpreted by Kenyans as a hint for the company’s comeback after a fight with the government.

    SportPesa exited the  Kenyan market after a prolonged fight with the government over taxes.

    READ:

    • Betting Firms in Kenya Cry Foul After Suspension of Payment Systems
    • 27 Gambling Firms in Kenya Face Closure after Government Declines to Renew Permits

    SportPesa’s exit has shaken the sports industry to the core with most teams left bleeding to their bone marrow and unable to even show up for matches due to lack of funds.

    Khusoko understands the redundancy letters are in line with the Kenyan laws and after the staff was issued with termination letters on October 2. The redundancy letters explain that the employees will be paid two months’ salaries and 15 day’s pay for every year in line with the law.

    However, SportPesa CEO Ronald Karauri informed his former employees that the firm was still in talks with the government as it hopes to strike a deal that would see it bounce back to the Kenyan market.
    Since its exit, the Kenyan Premier League (KPL) almost stopped as there was no money to fund its activities.

    The major beneficiaries, Gor Mahia and AFC Leopards, were the most affected as they lost sponsorship running into millions of shillings. The two teams have resorted to fundraisers to raise money to run their activities.

    Ronald Karauri SportPesa
    Khusoko

    Multimedia platform providing analysis of business & financial news in East Africa.

    Related Posts

    KSh20 mn Up for Grabs in 4th Edition of the Safaricom Chapa Dimba Winners

    2023-05-28

    Types of Sports Betting Bonuses in South Africa

    2023-05-18

    Registration Now Open for Safaricom Chapa Dimba 4th Edition

    2023-05-15

    Leave A Reply Cancel Reply

    Our Language is Flirty
    https://www.facebook.com/flirtynailsparlour/
    MORE TOP STORIES
    • Oppo Launches Find N Flip its Foldable Smartphone in Kenya
    • Kenya’s Central Bank Keeps Lending Rate Steady at 9.50%
    • Investing in Healthcare: M-PESA Foundation’s KSh 46 Mn Investment in Medical Camps
    • Do You Feel Sudden Heavy Emotions? Here’s How to Manage It
    • CAK Approves Hope Advancement’s 51pct Acquisition of Smep Microfinance Bank
    • Facebook
    • Twitter
    • LinkedIn
    Facebook Twitter LinkedIn
    • ABOUT US – KHUSOKO
    • PRIVACY POLICY
    • KHUSOKO STANDARDS GUIDE
    © 2023 Khusoko. All Rights Reserved.

    Type above and press Enter to search. Press Esc to cancel.