SportPesa’s major gamble in TZ begins to bear fruits
A gambler proudly displays for a Bajaj he won after betting with SportPesa.The company says it has attained 80 per cent of its target in the last six months of its operations in the country.
photo|FILE
What you need to know:
According to the company, the growth is due its global achievements that have made the public confident in them, but also the team of professionals who provide expertise in the betting firm.
Dar es Salaam. Online sports betting company, SportPesa, has attained 80 per cent of its target in the last six months of its operations in the country, raising hope that it is in the right footing to achieve its financial targets.
According to the company, the growth is due its global achievements that have made the public confident in them, but also the team of professionals who provide expertise in the betting firm.
SportPesa officially launched its business in Tanzania in May, this year. Data from Gaming Board of Tanzania (GBT) shows that in the period covering 2013/14 to 2015/16 sports betting generated more than Sh30 billion. SportPesa director of Administration in Tanzania, Abbas Tarimba told The Citizen that investors were happy to do business in the country as evidenced by the turnover growth within the short six-month period.
“We expect that by the next year the total sales will grow further because people have received our product in a positive way. This is partly motivated by the fact that our brand is global,” he stressed.
Multibet, one of the company’s betting forums, is the leading online platform going by its huge contribution to the growth of turnover. It is followed by games conducted via SMS services on mobile phones, according to Mr Tarimba.
The betting company, which invested over $7 million (Sh15.4 billion), has seen a positive outcome and it plans to sink more investments into the country in the near future, aven as it assesses mrket performance. Mr Tarimba added: “As investors, we are content with business and we expect to lead the betting sector in the country in the next year,”
In another development the company is expected to spend over Sh700 million in a period of three months on 100 three-wheeler motorcycles, Bajaji, earmarked for bet winners.
So far, the gaming giant has already given out over 20 Bajaji’s to bet winners worth more than Sh126 million in a period of eighteen days since the commencement of competition early alst month.
Gaming Board of Tanzania acting Director General James Mbalwe hailed the rapid growth of the betting sector, with the number of gaming firms totaling 26 from five three years ago.
“We are yet to receive any complaints from people engaged in gaming. This is due to our conducive environment, whereby bureaucracy is discouraged,” he said.
