A United Arab Emirates (UAE)-registered company has become the majority shareholder of Milestone Games Ltd, the company that operates the SportPesa brand in Kenya, following major changes in the firm’s ownership structure.
Records filed with the Business Registration Service (BRS) show that Techglow Ltd, a company registered in Ras Al Khaimah, has acquired a 54 percent stake in Milestone Games, marking a significant shift from the firm’s previous ownership, which was largely controlled by Kenyan investors.
The new filings indicate that businessman Robert Macharia’s direct shareholding has dropped sharply from 71 percent to 0.75 percent, while SportPesa Chief Executive Ronald Karauri’s stake has reduced from 13.4 percent to three percent.
Commtech Consortium Ltd. has also emerged as a key shareholder after acquiring a 25 percent stake in Milestone Games, making it the company’s second-largest shareholder after Techglow.
Corporate records further show that Milestone Games is owned by two shareholders: Nob Five Ltd., which holds a 75 percent stake, and Commtech Consortium Ltd., which owns the remaining 25 percent.
Techglow is listed among the shareholders of Nob Five Ltd. alongside Robert Macharia, Ronald Karauri, James Ngengi Muigai and White Hart Ltd., a company owned by businessman Tom Waireri Thuo.
The ownership changes come at a time when Kenya’s betting industry is experiencing strong growth. Industry data shows gamblers placed bets worth KSh330.5 billion in the year ending June, following the government’s decision to reduce excise duty on betting stakes from 15 percent to 5 percent.
The restructuring marks a significant shift in the ownership of one of Kenya’s largest betting firms and comes as the country’s gaming sector continues to expand amid rising betting activity.
