Uganda government, through the Minister of Finance and Planning, has penned a 10-year contract with Ithuba Holdings Limited to run Uganda National Lottery. Ithuba Uganda National Lottery
Also, the minister issued a national operating license to Ithuba Uganda Limited, which is owned by South African and Ugandan nationals.
Matia Kasaija, Finance Minister, welcomed the decision and praised the move as it will help in the implementation of the national development plan, and national budget, as well as in matters of education, infrastructure, health, and sports development.
Today, Finance Minister @MatiaK5 has signed the National Lottery Agreement between the Government and Ithuba Uganda Limited, jointly owned by South African and Ugandan Nationals for a duration of 10 years.
This is a landmark step forward for @lgrb_uganda and Ugandans at large! pic.twitter.com/9PukCOgVRo— National Lotteries and Gaming Regulatory Board (@lgrb_uganda) August 8, 2023
Effective today, the government of Uganda will partner with Ithuba Uganda Limited to conduct the National Lottery for an exclusive period of ten years subject to annual licence conditions and fulfilment of conditions stated in the agreement and the laws of the Republic of Uganda.
Matia Kasaija, Finance Minister Uganda
The government forecasts Shs 87 billion in tax revenue and Shs 60 billion in non-tax revenue, for a total of Shs 147 billion in expected annual income.
Bob Kabonero, Ithuba Uganda Limited Chairperson, termed the issuance of the license and signing of the agreement a magnificent achievement. He acknowledged the youth in Uganda and the role they played in moving the country forward and believed the National Lottery would develop many areas, including sports, art, and youth activities.
The Uganda National Lottery signifies a new era of progress and possibilities with its multifaceted capacity to contribute to the gross domestic product, propagate job creation and wealth.
Read Also: ESPN and Penn Entertainment Launches New Sportsbook
NLGRB executives maintained their diligence in picking Ithuba as a “fit and proper” corporation for the national lottery operation despite worries about compliance with regulations being raised in Parliament.
The calls for applications to conduct the National Lottery started in December 2021.
Our due diligence process was thorough and exhaustive. We assessed Ithuba Uganda Limited’s track record, financial stability, expertise and their commitment to responsible gaming practices which has always been at the core of our mandate.
We also scrutinized their operational procedures, security measures and player protection policies.
Denis Ngabirano, Acting CEO National Lotteries and Gaming Regulatory Board
The board revealed that Ithuba Uganda Limited had secured irrevocable funding to finance the operations of the National Lottery and construct a data center in the country.
Ithuba will now begin placing orders for lottery equipment, creating the appropriate infrastructure, and launching awareness campaigns.
Check out the latest news here and you are welcome to join our super exclusive iGaming Afrika Telegram Forum for all the latest and breaking news in the African Gambling industry. We would also like to hear from you, Message us on Telegram or write to [email protected] Ithuba Uganda National Lottery
