Online betting company Betway has filed for liquidation amid an ongoing row with the Kenya Revenue Authority (KRA) over a Sh5.2 billion tax demand, adding to the long list of companies that have either exited or plan to leave the Kenyan market, citing frustrations from the taxman.
A law firm, Anjarwalla & Khanna Advocates, has applied to the High Court for the dissolution of BlueJay Limited, the company that owns the Betway brand.
“Notice is given that a petition for the liquidation of the above-mentioned Company BlueJay Limited, a limited liability company, a company under number CPR/2015/206545 with its registered offices situated on LR No. 2/707, Galana Road, Nairobi c/o of Anjarwalla & Khanna, ALN House, Eldama Ravine Close, Westlands, Nairobi, P.O. Box 200-00606, Nairobi was presented by the company on September 30, 2024, at the High Court of Kenya, Milimani Law Courts, Nairobi,” said the law firm a public notice dated April 17, 2025.
Voluntary liquidation is when the directors or owners of a company decide to wind it up and sell off its assets, usually to pay off debts before the company is completely dissolved and operations cease.
Companies often choose to go under voluntary liquidation when they are insolvent and cannot settle their liabilities when they fall due.
“That the said petition is directed to be mentioned before the High Court, Commercial and Tax Division sitting at Nairobi, Milimani Law Court, on May 5, 2025, at 9.00 am or soon thereafter, and any creditor or contributory of the said petition may appear at the time of mention in person or by his advocate to any creditor to any or contributory of the said company requiring such a copy on payment of the regulated charge for the same,” adds the notice.
Should the liquidation request be granted, it will mark the end of a decade-long local operation by Betway, which at the height of its success rose to become the third-largest bookmaker in Kenya.
Betway is currently grappling with a Sh5.27 billion tax demand from the KRA over non-payment of various tax heads, including withholding tax on winnings, betting and gaming tax, and excise duty.
The tax appeals tribunal ruled against the company allowing the KRA to collect withholding tax on winnings amounting to Sh4,133,386,118, excise duty of Sh16,367,656, and Betting and Gaming Tax of Sh24,457,283.
On May 16, 2023, Betway stopped taking deposits and closed new customer registrations, allowing existing customers only to access their balances and request cashouts. The betting firm cited a challenging macroeconomic environment as the reason for its closure.
Betway, which has a global footprint, holding licences throughout Europe, the Americas, and Africa, and with about 60 brand partnerships with teams and leagues worldwide, is owned by the reclusive online gambling mogul Martin Paul Moshal.
Mr Moshal has, however, been so secretive and only admitted to being the owner of online gambling giant Betway after the UK journalists traced his ownership back to offshore trusts.
Details from the Registrar of Companies show that Rosehall Global Limited owns a controlling stake in BlueJay with a 70 percent stake.
Rosehall is registered in the British Virgin Islands, a country that is considered a tax haven, as it charges no income tax, capital gains tax on the sale of assets, or corporate withholding tax on payments made by BVI companies to non-residents.
Sources told the Business Daily that South African Merrick Wolman Zane, a director of Super Group Limited, is also a beneficial owner of BlueJay.
A beneficial owner is a natural person who has at least a 10 percent stake in a company. Super Group Limited is a holding company engaged in online sports betting and gaming. It operates through two business segments: Betway and Spin.
Betway was among the betting firms that the Betting Control and Licensing Board did not renew their operating licences for the period between July 1, 2019, and June 30, 2020, as the Uhuru government launched an onslaught against the gambling and gaming industry for being.
One of the largest betting firms, Sportpesa, initially exited in September 2019 due to a tax dispute. While the brand has returned under a new operating company, the original entity shut down.
Betin also closed its Kenyan operations around the same time as SportPesa in September 2019, citing tax issues.
