BETTING KENYA Kenya – Betin sacks all its staff 4 years ago Iwo Bulski Post Views: 1,078 After the big war on legislation of the new taxes imposed on betting companies in Kenya of the 20% tax. Betin as one of the company has gone ahead to sack all its staff living many jobless in these hard economic situation. What does this mean to the country of Kenya? In short Kenya people those who depended on this sports betting company will be seen deprived of their wellbeing since this has been a source of income to them and their families, to this there are a lot of employees in different categories ranging from managers, accounts. Security, secretarial cleaners, and to the outsourced side the service providers, landlords and to a greater part the livelihood of those sacked, what next for these employees. “Management has had several extensive meetings with the government entities regarding the company’s licence without much success” – read an internal memo signed by the managing director. “Given all these, we have had financial constraint as you might all expect. As a result of the deterioration of the profitability, the management has had to rethink its operating model and to proceed with the exercise of termination on account of redundancy.” The firm said it was only able to pay its staff for three months beginning July when the government kicked off a crackdown on betting firms in the country, but cannot sustain it beyond October. “We hereby notify you that your positions will be rendered redundant on October 31, 2019. This notice is given in accordance with Section 40 of the Employment Act 2007 and as such the provided for will apply to al, staff affected,” – read the memo. With the Betting Control and Licensing Board (BCLB) taking too long to renew operating permits for most gaming firms, it was projected that the move would lead to job losses in the industry. The board has maintained that the renewal of the licences is dependent on operations and directors of the firms getting a clean bill of health in an ongoing security vetting process. All gambling firms, whose annual licences are renewed at the end of June, are undergoing fresh vetting following a directive issued by Interior Secretary Fred Matiang’i on April 1. Dr Matiang’i had said the permits for all betting firms will be suspended from July 1 unless they complied with the law, including payment of all outstanding taxes. Source: standardmedia.co.ke About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: betting sports, Kenya Continue Reading Previous Uganda – Fortebet opens new branches and gives Techno F1 phonesNext After leaving Kenya, Sportpesa remains in 5 markets More Stories EXPERTS KENYA Digital wallets as an enabler for financial services in Africa 2 days ago Szarlot BETTING KENYA Betting firms tax remittance hit Ksh 15B in FY2022/23 2 days ago Szarlot EXPERTS KENYA Unlocking the power of mobile trading: A financial revolution in Kenya 3 days ago Samuel BETTING GHANA Why ‘Sewing Machine’ is trending in the world of sports betting 3 days ago Samuel BETTING NIGERIA The growing trend of mobile betting in Nigeria 4 days ago Samuel BETTING NIGERIA Innovations in responsible gambling: Betbonanza’s initiatives for safer betting 4 days ago Samuel BETTING ZAMBIA Amplifying Sports Betting with Music Ambassadors 5 days ago Szarlot BETTING UGANDA Uganda: Man Wins Shs 300,000 in Sports Betting, Dies Mysteriously 5 days ago Szarlot KENYA ONLINE Xprizo partners with African payments provider M-Pesa 5 days ago Samuel EXPERTS KENYA Flutterwave wants to invest $50 million in Kenya 6 days ago Samuel BETTING KENYA Exploring OdiBets: A Game-Changer In Kenyan Sports Betting 6 days ago Samuel EXPERTS HOT NEWS KENYA GamStop and Responsible Gambling in Africa 6 days ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.