A London court has ordered Kenyan businessman Paul Wanderi Ndungu to pay about Sh374 million 2.9 million in interim legal costs after he failed to convince a judge to unwind a years long dilution of his stake in SportPesa Global Holdings.
The ruling is the latest turn in an ugly boardroom split between Ndungu and former partners who helped build the SportPesa brand into one of East Africas best known betting names before regulatory pressure and tax changes reshaped the industry.
Court records show Ndungus shareholding in SportPesa Global Holdings, known as SGHL, fell to about 0.85 from 17 between 2019 and 2022 after three rights issues totaling 1.9 million. He argued the fundraising was engineered to edge out Kenyan shareholders and that company minutes and communications were manipulated to lock him out.
