Kenyan based private online gambling operator Sportpesa may be set for listing on the Nairobi Securities Exchange (NSE), Bloomberg reported on Thursday citing unnamed sources.
Sportpesa parent firm Pevans East Africa has reportedly hired Nairobi based stockbroker and investment advisor Kestrel Capital to examine listing opportunities at a time when online gaming and betting is thriving in the country.
In 2016, the company’s CEO Ronald Karaururi announced plans to list on the exchange by 2018.
Sportpesa CEO Ronald Karuri says they'll consider listing on the NSE Kenya over the next two years.
— Kenyanwallstreet (@kenyanwalstreet) November 9, 2016
The company is owned by five Kenyans, three Bulgarians and an American national. Mr Paul Ndung’u Wanderi, a top Shareholder in some NSE listed companies has a 17% stake in the company. Here is the shareholding structure;
The Shareholders of SportPesa ~a sports betting platform.
{5 Kenyans, 3 Bulgarians and 1 American} pic.twitter.com/neceAV8AyU— Kenyanwallstreet (@kenyanwalstreet) July 29, 2016
Sportpesa has been benefiting from the growing popularity of online gambling in Kenya over the past few years, growing into one of the region’s largest gambling operators. As at the end of the financial year ended 2016, the firm had a wagering turnover in excess of Sh 43.16 Billion according to confidential documents obtained by Kenyan Wallstreet. Its closest rival BetIn Kenya had a turnover of Sh 3.5 Billion during the period.
Largest Online Betting companies in Kenya in Terms of Revenue (2016).
Sportpesa Controls 76.4% Market Share. pic.twitter.com/lJBNxXeT87
— Kenyanwallstreet (@kenyanwalstreet) October 18, 2018
Sportpesa, launched in 2014 and is available in Kenya, Tanzania, South Africa, the Isle of Man, Italy and the UK and employs more than 500 individuals. The company currently has a number of global and international partnerships including four English football clubs – Hull City, Arsenal, Southampton and Everton.
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