Kenya: Netizens gush over Kasarani MP Ronald Karauri’s 2022 Range Rover
Netizens gush over Kasarani MP Ronald Karauri’s 2022 Range Rover L460 with custom ‘ACE 7’ number plates. The flamboyant ex-Sportpesa C.E.O @ronald.karauri previously owned a 2016 Range Rover Overfinch with ‘ACE 777’ plates
Ronald Karauri,Kenyan businessman and other executives, received dividends totaling Ksh1.835 billion ($15.8 million) from their stakes in Pevans East Africa, the defunct holding company that pioneered betting in Kenya through the SportPesa brand.SportPesa is a leading sports news and betting technology company with operations in Kenya, Tanzania, South Africa, Nigeria, Italy, Ireland, and the Isle of Man.
Pevans East Africa, SportPesa’s defunct holding company, began paying dividends in 2015 when it distributed Ksh1.57 billion ($23.46 million) to its shareholders.
It had a stellar year in 2016 when it paid a record dividend of Ksh4.3 billion ($36.9 million) to shareholders.
Its payout dropped to Ksh290.3 million ($2.5 million), Ksh876.5 million ($7.51 million), and Ksh559.9 million ($4.8 million), respectively, in 2017, 2018, and 2019, when it ceased operations after the Kenyan government clamped down on its operations due to alleged non-payment of taxes and concerns about increased gambling addiction.
Following the cancellation of its operating license, some of Pevans’ founders, including Karauri, transferred the SportPesa brand to Milestone Games Limited, which began trading in October 2020.
The strategic move prompted legal action from partners, particularly Ndung’u and Maina, who accused Karauri of an illegal takeover through Milestone Games Limited.
