Interior CS Fred Matiangi has vowed to close down betting companies which are not tax compliant. The CS announced today that effective 1 July 2019 any betting company which is not tax compliant will not be allowed to operate in Kenya.
In a press conference this morning, he claimed that 76% of the youths in Kenya are addicted to betting and that betting is one of the causes of many suicide cases witnessed in Kenya.
The CS also reiterated that gambling might be involved in money laundering,which is why it must be regulated.
Currently, there are over 40 betting companies licensed to operate in Kenya.Each month,these companies rake in over Ksh 40 billion in profits.
