Connect with us

Hi, what are you looking for?

Business

Sportpesa CEO Ronald Karauri Offers Hope to Fired Employees

unnamed 15
unnamed 15

Sportpesa CEO Ronald Karauri has finally spoken a day after the company fired hundreds of their employees.

The company told their employees on Wednesday that they were terminating their contracts because they cannot continue with the journey.

“I don’t know what to say, but it appears this journey cannot continue. I’m disappointed,” Karauri reportedly told his staff.

An employee of the company who did not want to be mentioned said a sombre mood engulfed the firm when the news broke.

“The boss came in and even he could not hold his usually jovial face. It was not easy for him to see people filled with anxious grief.

People, he’s called colleagues, people he’s worked with to build a shining brand, people with whom he’s shared the company’s highlights.”

Read Also: Raila Orders All ODM MPs to Contribute Ksh50k for Imran, Camp in Kibra

And now Karauri has said that they had to let their staff go because they had kept them on the payroll for more than three months despite being out of business.

The govt grounded most betting companies after it shut down their pay bill numbers in July.

“We’ve been keeping our employees for three months with no revenue so we had to do what we had to do. With the new taxation rules, the business has become tricky,” Karauri said during an interview on a local Radio Station on Thursday morning.

The company announced on Saturday that they were exiting the Kenyan market due to an unfavourable working environment which was brought about by high taxation.

The government has imposed a 20% tax on all betting stake.

Read Also: Did Ruto Grab 900 Acres of Land in Maasai Mara?

“The tax is based on a fundamental misunderstanding by the Rotich-led treasury of how revenue generation works in the bookmaker industry.

This decision will have a damaging impact on both customers and treasury,” the firm said in a statement.

However, Karauri offered hope to the fired employees saying they had not lost hope and were engaging stakeholders with the intention of coming back. Kenya was the firm’s biggest market.

Several Kenyans have taken to social media to cry about the level at which companies are firing their employees.

Like KDRTV Page.   Subscribe to KDRTV Newsletter.   Advertise with us.   Send us enquiries, press releases

Subscribe to watch latests videos
Click to comment

You May Also Like

Politics

(KDRTV) – UDA candidate Antony Nzuki is the new MCA- elect for London Ward in Nakuru County. Preliminary results show that Nzuki is leading...

Politics

(KDRTV) – Former Sports CS Rashid Echesa has been caught on camera slapping an Independent Electoral and Boundaries Commission (IEBC)staff in Matungu. In a...

Politics

(KDRTV) – Jubilee Party officials are assessing plans to remove DP William Ruto as the Deputy Party leader, several sources have intimated to KDRTV....

Politics

(KDRTV) – Ford Kenya leader Moses Wetangula has accused UDA members of bribing voters in the ongoing Kabuchai by-election. While addressing the media after...