The betting is slowly turning out to be the next big thing in Kenya. The industry is becoming more and more interesting with new avenues setting in. https://twitter.com/ngcc_ke/status/1145704630661328901
Gamblers can now place a bet on the Nairobi Securities Exchange (NSE). NSE has started operating the derivatives market dubbed ‘NEXT’ that allows you to bet on stocks.
NEXT was established as a result of increased integration of the Kenyan financial markets with international markets; increased volatility in asset prices in local and international financial markets; the need for more sophisticated risk management tools and strategies; and the need to broaden and deepen Kenyan financial markets.
Regulated by the Capital Markets Authority (CMA), NEXT will facilitate the trading of futures contracts in the Kenyan market.
This a sigh of relief to most gambler as the government through the Interior Ministry had refused to renew contracts of many betting firms in the country.
The Government through CS Fred Matiang’i outcried on how betting is messing the lives of most young people in the society.
Due to that the Ministry resolved to create an environment that will tame the existing ones and make sure that they operate within the stated framework.
Following a directive by the Cabinet Secretary, @InteriorKE, Dr. @FredMatiangi, that all companies involved in gaming be vetted afresh, the Betting Control and Licensing Board has released it's report. pic.twitter.com/DxpVXzkVw6
— National Government Communication Centre (@ngcc_ke) July 1, 2019
HERE IS THE FULL REPORT
