SportPesa parent Milestone Games gains new majority shareholder
UAE investors have emerged as the leading shareholders in SportPesa’s parent company following changes to Milestone Games’ ownership structure.
Kenya.- Kenyan sports betting operator SportPesa has reportedly undergone a significant ownership restructuring following changes to its shareholding that gave UAE-registered Techglow majority control of its parent company, Milestone Games.
Records filed with Kenya’s Business Registration Service (BRS) show Techglow now holds a 54 per cent stake in Milestone Games, replacing a shareholder structure previously dominated by Kenyan investors.
The filings also show that Commtech Consortium has acquired a direct 25 per cent stake in Milestone Games, making it the company’s second-largest shareholder.
As a result of the restructuring, businessman Robert Macharia’s direct shareholding fell from 71 per cent to 0.75 per cent, while SportPesa chief executive Ronald Karauri’s stake declined from 13.4 per cent to 3 per cent.
Milestone Games’ ownership is split between Nob Five Ltd, which holds a 75 per cent stake, and Commtech Consortium, which owns the remaining 25 per cent. Besides Techglow, Nob Five’s shareholders include Macharia, Karauri, James Ngengi Muigai and White Hart.
The restructuring comes amid continued growth in Kenya’s regulated betting market, with bettors staking a record KSh330.5bn (€2.21bn) in the year to June after the government reduced excise duty on betting stakes from 15 per cent to 5 per cent.
