The president of Kenya, Uhuru Kenyatta, has signed into law changes to gambling taxes in the country, reports Reuters.
The law imposes a 35 per cent on gross profits from gambling, considerably raising the rate from five per cent for lotteries, 7.5 per cent for betting firms and 12 per cent for casino gambling.
The new rate represents a compromise on the 50 per cent originally proposed by Henry Rotich, secretary for the national treasury.
The gambling market in Kenya is dominated by online gaming and phone-based services..
Source: CNBC Africa
