Government has said they will not renew licences or give new ones to foreign owned betting companies.
According to the Minister of Finance, Matia Kasaija, government is not banning betting/ gaming as has been reported by several local media but “limiting the activity to Ugandans’.
“The licences (for foreign owned companies) that are running will continue but when they expire, they will not be renewed and no new ones will be issued, because we have discovered so much of our money is being exported through that gaming thing, it ends up taking our scarce foreign exchange which we earn through difficult circumstances,” Kasaija said.
“So I think there is need for it to be restricted to only Ugandans. At least Ugandans will be able to keep the money here,” Kasaija added.
According to Kasaija, government is aware that youth have been taken up by the betting and gaming industry but it is against the fact that those owning these gaming companies are taking away the money, leaving Ugandans poor.
“Let us leave this gaming job for Ugandans, because we know even if they decide to take the money outside the country, only a little of it will be taken, but most money will be left here in the economy.”
Kasaija said he will be releasing a document proposing a stop to the renewal of licences to foreigners.
Yesterday, Daily Monitor reported that President Museveni ordered that no new sports betting company should be licensed to operate in Uganda and licences for the existing companies should not be renewed.
Quoting Minister of State for Finance in charge of Planning, Mr David Bahati, the local newspaper claimed the President gave the directive because sports betting companies have diverted the attention of youth from hard work.