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South African company Ithuba to retain earnings in Uganda

Dennis Mudene, the chief executive officer of the National Lotteries and Gaming Regulatory Board, says “over 85 per cent of the national lottery proceeds will stay in Uganda,” as part of the industry’s contribution to the growth of the economy.

He was speaking at the launch of Ithuba Uganda Limited, a lottery and gaming company from South Africa. In a press statement, Ithuba said it would invest more than $14.5 million as start-up capital in its lottery operations.

“We have ensured that Ithuba hosts its infrastructure within the country so as to bring about total transparency and accountability of their operations. And the data that they are collecting does not belong to them but to the government of Uganda, and we will have full access of their entire operation,” Mudene added.

He noted that more than 50 per cent of the goods and services that are used in Ithuba Uganda operations have been locally-sourced and this shall increase to 80 per cent in the second and third year, and thereafter to 90 per cent in the fourth year onwards.

Michelle Van Trotsenburg, the head of Marketing and Corporate Affairs at Ithuba, noted the company was “thrilled to bring the Uganda national lottery to life by offering a variety of games that provide both excitement and opportunity to win life-changing jackpots.”

She said the company was committed to ensuring a fair, transparent, and responsible gaming environment. Ithuba will work with 600 retailers that will be operating across the entire country.

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+1 #1 alex erejo 2024-06-07 18:59
An investor in Lottery of all things is indeed interesting.
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