Nairobi — Gaming firm 22Bet Kenya has donated over Sh 700,000 to support children living with disabilities at Kibera Edmund Rice Center.
The funding, both in food and monetary value, will help the institution purchase basic commodities including uniforms, and medical supplies.
According to Githinji Ndurushi, the Head of Marketing at 22Bet Kenya, the donation is part of the impact initiative carried out by company through its charitable arm, THX22 Foundation, which is committed to transforming lives in communities through a variety of strategic and sustainable initiatives.
"The THX22 Foundation focuses on fostering positive change in key areas such as education, health, sports development, and environmental conservation. By aligning our efforts with the needs of local communities, our Foundation ensures that our projects are both meaningful and empowering," said Ndurushi, the Head of Marketing at 22Bet Kenya.
He noted that the donations reinforce the firm's dedication to giving back to society by addressing pressing societal issues and contributing to long-term solutions.
Through its targeted outreach, the foundation not only provides material support but also raises awareness and mobilizes resources that align with its vision of a more equitable and supportive community.
Despite being perceived as purely profit-making businesses Betting companies across the country have been generating massive revenue for the government in form of taxes.
Betting firms integration into the Kenya Revenue Authority's (KRA's) tax system boosted revenue collection by 26.2 percent during the 2023/24 financial year.
KRA recorded a 26.2 percent growth in revenue collection from gambling activities, reaching Sh24.2 billion, up from Sh19.2 billion in the previous year.
"The system integration gave KRA real-time access to 111 companies in the gaming and betting sector that have been on-boarded on the Authority's Tax System, thereby streaming revenue collection from the sector," said KRA in a statement.
The taxman through the Betting Control and Licensing Board (BCLB), had in August 2023 introduced a comprehensive tax structure applied to the betting and gaming sector.
This included a 15 percent betting tax on revenue generated from betting, a 15 percent turnover tax on all gross earnings, a 20 percent excise duty on amounts staked in betting activities, and a 20 percent withholding tax on winnings from betting, lotteries, gaming, and prize competitions.
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In July 2024 the Sports, Arts, and Social Development Fund(SASDF) was allocated Sh 16.5 billion by the National Treasury to support the sector in the 2024/25 Financial year budget read in Parliament by the then Cabinet Secretary Njuguna Ndung'u.
The main source of the SASDF funds comes from licensed betting and lottery firms.
