Kenya orders telecoms firm to shut down betting payments

  • 📰 PremiumTimesng
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 78%

Nigeria Headlines News

Nigeria Latest News,Nigeria Headlines

Kenya has ordered Safaricom, to stop processing payments for sports betting companies, potentially shutting down a lucrative source of revenue..

Kenya has ordered telecoms firm, Safaricom, to stop processing payments for sports betting companies, potentially shutting down a lucrative source of revenue for the company.

Mr Wambua said such payments should stop, pending the outcome of an ongoing inquiry about their suitability to operate in the country. Responding, through its lawyers, Safaricom said it required time to carry out the order since abrupt implementation would result in shutting millions of users out of funds already deposited in the gaming wallets of the various betting firms.It added that two of the gaming companies had also obtained court orders allowing them to continue their operations without a renewed licence, further complicating the situation.

Online sports betting companies have grown rapidly in the East African nation in recent years, riding a wave of enthusiasm for sports to achieve combined revenue of 204 billion shillings last year.


Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Source: GuardianNigeria - 🏆 1. / 94 Read more »

Ondo residents shut down Akure, attack BEDC over cables theft, N24m debt claim - Daily Post NigeriaFor several hours, hundred of youths from Fanibi area of Akure shut down the busy Oyemekun and Ondo road in the state capital as they accused officials of
Source: DailyPostNGR - 🏆 11. / 59 Read more »

NCC Moves to Curb Cyber Threats in Telecoms Operations - THISDAYLIVEEmma Okonji Worried about the rising trend of cyberattacks, the Nigerian Communications Commission (NCC) has commenced the process of establishing a Cyber Security Incidence Response Team (CSIRT). The initiative, which was exclusively designed for the telecommunications sector, would facilitate intervention, swift identification of threats/vulnerabilities and sharing of valuable information and resources to assist in fortifying …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »

CBN pegs interest payments on bank deposits at N2bn – Daily TrustThe Central Bank of Nigeria (CBN) has said deposit money banks will no longer receive interest payments on deposits exceeding N2 billion. The CBN in a circular released yesterday said: “Any deposit by a bank in excess of 2 billion naira shall not be remunerated.”ADVERTISEMENT The central bank will pay interest to lenders on qualified …
Source: Daily Trust - 🏆 13. / 51 Read more »

How we were shut out of inauguration - Edo lawmakers-ElectThe House of Representatives Ad Hoc committee probing the crisis in the Edo State House of Assembly on Wednesday began investigations
Source: TheNationNews - 🏆 6. / 69 Read more »

Firm signs $350m financing deal to grow oil production, export – Daily TrustIndigenous oil company, Green Energy International Limited (GEIL), the operator of the Otakikpo Marginal Field located in Oil Mining Lease (OML) 11 Rivers state, has entered into a Memorandum of Understanding (MOU) with a consortium of international companies for the second phase development of the oil field involving a total package of $350m. The consortium …
Source: Daily Trust - 🏆 13. / 51 Read more »