A betting firm run by the family of Mt Kenya University (MKU) owner Simon Gicharu is on the brink of collapse.
With its collapse Ekabet will sink with millions of shillings belonging to Kenyan punters.
Following frenzy to employ staff from SportPesa that was pushed out of business by monied Kikuyu elite driven by jealousy and greed, things
are not looking up at all for the.
Ekabet was one of the few companies that benefited from SporrPesa’s predicaments, taking with it a sizeable chunk customers loyal to the
Romanian run betting giant that had tentacles spread to Asia, Europe and Africa.
In a bid to get the best brains to run the business, an oligarchy that only a few can afford to invest in, the Gicharu run family recruited
far and wide with a marketing frenzy only comparable to SportPesa.
All was lost midstream as they struggled to pay certain wins and eventually, some of the promises, wins and even CSR events that had to
be canceled. In typical Gicharu style, a fact well demonstrated by corporate bodies he has been allowed to run through the Mt Kenya Mafia
networks that he sits deep in the middle Ekabet struggled to cut a niche through shortcuts.
“I think the enterprise in sinking and it is sinking very fast. Thehave already brought down their website and it is no wonder. They
could not manage to run the business well despite getting employees and senior management staff from SportPesa. On the other hand, they
have been struggling to meet Kenya Revenue Authority (KRA) obligations and other delayed mandatory payments. This one is sinking and with millions of unpaid bets to punters countrywide.
“Wait for coronavirus to go. We will be reading a story about ekabet.We are seeing a company that could not withstand the markets ups and
downs,” says an man who was sent away from the company last week. On the other hand, ekabet has been struggling against Betika and
Betway who have enjoyed the fruits after the exit of the SportPesa, Betin and a host of others that were inspired by money laundering cartels – reason why the government came down hard on the betting companies.
However, others in the business indicate that the recent happenings in the company was inspired by the fact that operational costs outweighed
profits it was making, forcing Gicharu and his family to walk away.
There's no story that cannot be told. We cover the stories that others don't want to be told, we bring you all the news you need. If you have tips, exposes or any story you need to be told bluntly and all queries write to us [email protected] also find us on Telegram
