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As the government continues with its crackdown on betting firms that have failed t comply with local regulations, details on the ownership of Kenyaâs largest betting firm-Sportpes have emerged.
Quoting the most recent shareholder records seen by Nation, the publication revealed the ownership of the company that is valued at hundreds of billions of shillings.
As expected, the names of movers and shakers, with names of billionaires popping up.
Asenath Wacera Maina, the widow of former Nairobi mayor Dickson Wathika owns 21 percent stake in the firm, making her the largest Kenyan shareholder.
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Billionaire Paul Wanderi Ndungâu who was behind President Uhuru Kenyattaâs reelection fund raiser that raised billions owns 17 percent stake in the company.
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Paul Wanderi Ndungâu
Ndungu who also serves as the firmâs board chairman started off as a Safaricom distributor.
He played an integral role in President Uhuru Kenyattaâs reelection in 2017 while serving as the chairperson of the Friends of the Jubilee Foundation technical committee.
Sportpesa CEO Ronald Karauri own 7 percent stake in the company and is credited with the companyâs success, with its revenues crossed the Sh100 billion mark in under five years.
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Ronald Karauri
Captain Karauri as he is famously known is a former Kenya airways pilot.
Other shareholders are Mr Peter Kihanya Muiruri (one per cent), Cellini Holdings Limited (three per cent), Valentina Nikolaeva Mineva (three per cent), Ivan Stoyanov Kalpakchiev (two per cent), Mr Francis Waweru Kiarie (one per cent) and Mr Robert Kenneth Wanyoike Macharia (three per cent).
The firm which set base in Kenya in 2014 is owned by a mixture of local and foreign investors, including Bulgarians.
Guerassim Nikolov, a Bulgarian owns 21 percent stake with another foreigner- Gene Grand owning the remaining 21 per cent.