SportPesa suffers new setback as BCLB summons new firm owner
Football
By
Kamau Muthoni
| Nov 27, 2020
Betting Control and Licensing Board (BCLB) has summoned new ="https://www.standardmedia.co.ke/sports/football/2001394545/sportspesa-billionaires-now-battle-over-image">SportPesa The betting firm’s directors will now appear before the betting regulator to explain their relationship with Pevans Limited, if any, and show cause why the licence should not be withdrawn. Unfolding saga
BCLB chairman Cyrus Maina has written to Milestone’s operations director Bernard Chauro, requiring the directors of Nob Five Limited and Wilson Karungaru Ngatia to appear before the board and explain why the licence should not be withdrawn. vivo V30 5G launching in Kenya: Step into the future with style How Kenya's ICT Accessibility Standards can create more inclusive workplaces Unlocking photographic brilliance: Vivo V29 5G series with its smart aura light portrait They are accused of breaching an agreement they signed before being issued with a betting licence.
BCLB says the approval was to enable it to conduct due diligence on who owns Milestone, its directors, and the shareholders. Milestone’s ownership is an unfolding saga as the board’s letter on the firm’s registration indicate that Pevans owners are back to the game, but with a new face. This is the puzzle that Milestone directors will be required to explain.
According to BCLB, Nob Five has 9,950 shares in Milestone while Karungaru’s stake in the firm is 50.
But the ownership web does not end there. Nob Five is owned by Selenium Limited, holding 9,600 shares while Jacqueline Nyambura Kungu owns 400 shares.
According to the board’s letter dated November 24, Selenium Limited owned by Ronald Karauri has 400 shares and Francis Waweru Kiarie has 300 shares. “It is the view of the board that the actions that the aforementioned actions of the company constitute a material breach of the applicable requirements for which its licence may be cancelled or varied,” Mr Maina wrote to Milestone.ber 24, 2020.
In its court papers, Milestone explained that the brand SportPesa is not owned by Pevans. Instead, it said it is owned by="https://www.standardmedia.co.ke/sports/sports/2001394780/inside-sportpesas-ambitious-sh830million-a-month-tax-repayment-plan"> SportPesa Trademark
“It is not true that the trademark ="https://www.standardmedia.co.ke/sports/football/2001394545/sportspesa-billionaires-now-battle-over-image">SportPesa< belongs to M/S Pevans East Africa Limited and this information was communicated to the respondent (BCLB). The applicant has further received confirmation that M/S Pevans East Africa Limited does not own the said trademark as alleged by the respondent from the letter,” court papers read.
However, BCLB chairman in his letter requiring Milestone owners to appear before it on December 3 says the board’s investigations revealed Milestone’s shareholding had since changed.
BCLB issued the licence to Milestone director James Muigai Ngengi on October 6. However, Mr Muigai’s name does not feature as a shareholder. BCLB suspended the licence after it learned Milestone had taken up SportPesa.
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