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The growth of the service forced formal banking institutions to take note of the new venture. In December 2008, a group of banks reportedly lobbied the Kenyan finance minister to audit M-PESA, in an effort to at least slow the growth of the service. This ploy failed, as the audit found that the service was robust.[32] At this time the Banking Act did not provide a basis to regulate products offered by non-banks, of which M-PESA was one such very successful product. As at November 2014, M-PESA transactions for the 11 months of 2014 were valued at KSh2.1 trillion, a 28% increase from 2013, and almost half the value of the country's GDP.[citation needed]

Milford Bateman et al. even conclude that M-PESA's expansion resulted in holding back economic development in Kenya. They diagnose serious weaknesses in the much cited paper by Suri and Jack, which had found positive effects on poverty, as M-PESA enabled female clients to move out of subsistence agriculture into micro-enterprise or small-scale trading activities. Alleged weaknesses include a failure to incorporate business failures and crowding out of competitors in the analysis. Bateman et al. call M-Pesa an extractive activity, by which large profits are created from taxing small-scale payments, which would be free if cash was used instead. As a large part of these profits are sent abroad to foreign shareholders of Safaricom, local spending power and demand are reduced, and with it the development potential for local enterprise.[66]

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Initially, the KRA had slapped a KES 15 Bn (USD 136.2 Mn) penalty on the company which was essentially some measure of punishment on SportPesa for failing to remit several taxes and cooking its books.

The confirmed withdrawal of sponsorship by sportpesa includes the following entities: Gor mahia AFC Leopards Football Club Nakuru All Stars Football Club SportPesa Premier League SportPesa Super 8 League Sportpesa Quins (also known as Kenya Harlequins

Pevans East Africa, the company that operated under the sportpesa gaming brand has lost its bid to renew its license. This is another major blow to the gaming giant that had already started operations in Kenya after folding up.

Tarimba said it is meaningless if the coaches who attended the course will fail to uplift the level of the game after being trained by experienced tacticians of a famous English Premier League side, Southampton. e24fc04721