Kenyan businessman Paul Ndung’u faces $2.9 million repayment in SportPesa dispute
A London court ordered Kenyan businessman Paul Ndung’u to repay $2.9 million to former partners after losing a bid to reclaim a stake in SportPesa.
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A London court ordered Kenyan businessman Paul Ndung’u to repay $2.9 million to former partners after losing a bid to reclaim a stake in SportPesa.
Paul Ndung’u returns to court, challenging the transfer of the SportPesa trademark and accusing former partners of arranging a fraudulent deal.
Aside from his ownership interest in the SportPesa brand, Ndung’u owns a significant stake in Life Care Medics.
Ndung’u is one of Kenya’s richest men.
Ndung’u is a prominent Kenyan businessman and shareholder in Pevans East Africa.
The move follows a special resolution by Sportpesa CEO Ronald Karauri and other key stakeholders at Pevans East Africa.
Ndung’u and Asenath Wachera Maina each owned 17 and 21 percent of Pevans East Africa.
The move comes nearly two years after the SportPesa brand was relaunched.
SportPesa is a leading sports news and betting technology company.