Kenyan businessman Paul Ndungu, a key figure behind the growth of SportPesa , the countrys leading sports betting platform, has been ordered by a London court to repay Ksh374 million 2.9 million to former co-shareholders, capping a long-running dispute over ownership of the betting firm.
The order follows Ndungus failed attempt to reclaim a 17 percent stake in SportPesa, the sports betting company he helped co-found in 2014. The case centers on disagreements over control and shareholder rights that split the founding group after SportPesa became one of East Africas most recognizable betting brands.
SportPesa grew quickly in Kenya and neighboring markets, helped by heavy marketing and sponsorships tied to football. But as the business expanded, relations among shareholders deteriorated, eventually spilling into courtrooms in Kenya and the United Kingdom.
