Kenya’s billionaires battle in court for control of SportPesa, a $1.6B betting giant, shaking investor confidence in gaming.
Billionaires Battle for SportPesa Control Kenya’s Richest Clash in Court
Kenya’s wealthiest investors are locked in a courtroom fight over SportPesa, the country’s most famous betting brand. The dispute has unsettled gamblers and raised doubts about the stability of Kenya’s $1.6 billion gaming market.
Rise of a Betting Empire
Launched in 2012 by Pevans East Africa, SportPesa quickly grew into a global name. It struck English Premier League sponsorships, paid out more than KSh152 billion ($1.2 billion), and created a new wave of Kenyan billionaires.
Licence Loss and Trademark Transfer
The empire cracked in 2019 when regulators revoked Pevans’ licence over unpaid taxes worth hundreds of millions of dollars. Soon after, the SportPesa trademark was shifted to Milestone Games, a firm tied to CEO Ronald Karauri — a move that enraged shareholders.
Shareholder Revolt
Investor Asenath Maina challenged the transfer, calling it fraudulent. She is pushing the courts to reinstate Pevans as owner and claw back profits. The High Court has since barred Milestone from using the SportPesa name pending judgment.
Regulators Deepen Uncertainty
The Betting Control and Licensing Board has repeatedly suspended and restored Milestone’s licences, leaving punters unsure which platforms are legal and whether winnings are secure.Interestingly, regulators across the region have threatened to revoke the licences of established businesses, as happened in Sudan this February when Stanbic Bank was threatened with revocation of its licence over a dispute involving the withholding of foreign currency by an airline.
Confidence on the Line
“The gaming market runs on trust,” said a Nairobi-based consultant. “When SportPesa is stuck in endless court battles, players lose confidence.”
Kenya’s gambling sector generates more than KSh200 billion ($1.6 billion) annually and supports thousands of jobs. Analysts warn that prolonged litigation could shake investor confidence and slow industry growth.
A Battle Beyond Betting
The SportPesa saga is no longer just a licensing dispute. Allegations of insider dealing and shareholder betrayal have turned it into a symbol of how Kenya’s billionaire elite wage corporate wars in courtrooms.
