Gem Member of Parliament has warned that the practice will break Kenya’s economy if it doesn’t get regulated.
Kenya.- Jakoyo Midiwo, who is Gem Member of Parliament and deputy minority leader in the National Assembly has warned that “gambling will break the economy.” The MP recently attempted to regulate gambling, but The National Assembly unanimously voted to reject the motion to set up a special Select Committee to inquire into the activities of the multi-billion shilling betting and gambling industry in Kenya.
Midiwo noted that a lot of money is made when an average of six million Kenyans place €2 bets daily. “The state should be worried since one single person who is able to earn €1.7 million through gambling can overthrow a government. We are not trying to put them out of business. Slot machines around the country should be declared illegal by executive order,” he said.
The deputy minority leader questioned Kenyan companies that sponsor foreign football teams. He believes that if a national company sings a deal with a foreign team, they’re exporting people’s money and the amount could be higher than what the government is borrowing. He said if the country was losing €8.6 million a day, Kenyans were losing a huge percentage of the Gross Domestic Product.
Midiwo’s attempts to form a parliamentary committee to investigate the gambling industry and regulate the betting craze was shot down after debate. The motion sought to have the industry regulated to ensure no tax evasion and money laundering and it is run according to international best practices.