BETTING KENYA Kenya: who are the Kenyan shareholders in SportPesa? 6 years ago Iwo Bulski Post Views: 1,159 SportPesa has been a roaring success since it set up shop in Kenya in 2014. Its annual revenues crossed the Sh100 billion mark in under five years, helped by the revolutionary mobile money network. Its success has been the envy of the betting industry in the region, as it came at a time when the country was ready to take on the gambling craze. The firm would quickly step forward to the international stage after it announced a Sh1.3 billion sponsorship deal with Everton FC. It was the biggest deal in the club’s sponsorship history. The firm would also set up a global headquarters in Liverpool. Before it shot to global fame, it had entered smaller deals with Arsenal, Southampton and Hull City football clubs as well as the Spanish La Liga and Italian teams. The firm has, however, chosen to keep its ownership structure, which includes Bulgarians and several Kenyans who are now the centre of attention as the government cracks the whip on betting firms, under wraps. The firm has connections to other companies incorporated in the United Kingdom and the Isle of Man, a tax haven favoured by sports betting firms. But behind the firm is a group of foreign billionaires who struck gold in Kenya. The most recent shareholder records seen by the Saturday Nation show that Guerassim Nikolov, a Bulgarian, owns a 21 per cent stake in the company, making him one of the three biggest owners. Mr Nikolov is understood to have started out with a Bulgarian casino in 1989. He came to Kenya several years later where he started as a casino manager. He was the brains behind Toto 6/49, which went under. The other two largest shareholders are Gene Grand and Asenath Wacera Maina, who own a 21 per cent stake each. Grand is a foreigner while Ms Wacera is a Kenyan. In total, the three own 63 per cent. Ms Wacera, the widow of former Nairobi mayor Dickson Wathika, has successfully kept a low profile. Billionaire Paul Wanderi Ndung’u owns a 17 per cent stake in the firm. Mr Ndung’u, who built his fortune as a Safaricom distributor, has been the firm’s board chairman. Mr Ndung’u was the chairperson of the Friends of the Jubilee Foundation technical committee that raised billions for the party in the run-up to the 2017 election. Other shareholders are Mr Ronald Karauri, who is the firm’s chief executive officer. He owns a seven per cent stake in the firm. Mr Karauri is a former Kenya Airways pilot. The other shareholders are Mr Peter Kihanya Muiruri (one per cent), Cellini Holdings Limited (three per cent), Valentina Nikolaeva Mineva (three per cent), Ivan Stoyanov Kalpakchiev (two per cent), Mr Francis Waweru Kiarie (one per cent) and Mr Robert Kenneth Wanyoike Macharia (three per cent). The firm maintains it has been playing by the rules and has paid its fair share of taxes as required. It has a tax clearance certificate and several awards from KRA to prove it. Soutce: Daily Nation 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: Kenia, shareholders, SportPesa Continue Reading Previous Kenya targets foreigners in the gambling industryNext Rwanda – How to get money from Premier Bet More Stories BETTING HOT NEWS KENYA Nearly Sh1 trillion is gambled in a year, figure keeps growing 1 day ago Samuel KENYA ONLINE Parliament Goes After ‘Aviator’ Betting Game 5 days ago Samuel EXPERTS KENYA Identification of and intervention in gambling effects among vulnerable groups in public universities in Kenya 6 days ago Samuel EXPERTS KENYA MPs pass 10 amendments in efforts to curb money laundering in Kenya 6 days ago Szarlot BETTING NIGERIA How responsive designs are helping the Nigerian sports betting industry to 1 week ago Szarlot BETTING SOUTH AFRICA The Rise of Sports Betting in Gauteng: Bet Safely and Responsibly 1 week ago Samuel KENYA ONLINE Slotegrator Breaks Down Africa’s $17.63 Billion Betting Growth 1 week ago Iwo Bulski BETTING UGANDA Why Uganda might have the world’s most passionate Arsenal fans 1 week ago Samuel BETTING KENYA Strict measures await betting, lottery industry operators in Nairobi 2 weeks ago Samuel EXPERTS KENYA NACADA Sensitised Boda Boda Riders On Drug Risks 2 weeks ago Samuel BETTING NIGERIA Nigeria’s Betting Industry Records Explosive Growth in Q1 2025 2 weeks ago Samuel CASINO KENYA A History Of Casinos In Kenya: From Land-Based To Digital 2 weeks 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.