Kenya 7s To Lose Main Sponsor

One season after securing a multi-million sponsorship from betting firm Sportpesa, Kenya will lose the sponsor come January 2018.

Sportpesa has announced it will withdraw from all sports sponsorship on January 1, 2018 as a result of 35% tax imposed on betting firms.

The bad news was released on Friday by Sportpesa CEO Ronald Karauri during a reaction to the assertion of Finance bill.
“As Sportpesa we will be giving notice to clubs and unions that from January 1, we will withdraw all sponsorships.”

“With the new bill coming into effect on January 1st, 2018 we want our sports partners to plan accordingly.”

KRU and Sportpesa entered into a partnership in 2016 that saw the latter inject up to 0.6billion worth of sponsorship for a period of five years.

“Our cost of doing business as a company will be greatly affected hence we have to consider the impact on operating besides partnerships,” added Karauri.

Kenya Sevens played in 2016/2017 series bearing Sportpesa’s name but that will change immediately after Cape Town Sevens as they will pull out in January.

Sydney and Hamilton Sevens are set for late January meaning Kenya Sevens will have parted way with Sportpesa.

Kenya Cup side Kenya Harlequins had also signed an initial five-year deal with Sportpesa with an undisclosed amount of money that was set to be renewed for five more years.

 

Sports and Technology Reporter. I use my football skills to convert Rugby tries.