In an exciting turn of events, Uganda’s Finance Minister, Matia Kasaija, has made a bold announcement regarding the utilization of tax proceeds from gaming and betting. The decision has been made to direct these funds towards the development of sports infrastructure in preparation for the highly anticipated 2027 Africa Cup of Nations (AFCON).
This strategic move comes at a time when the government is foreseeing a substantial increase in revenue from the gambling sector. The National Lotteries and Gaming Regulatory Board have reported a surplus of Shs33bn ($8.87m) in the 2022/23 financial year, with a significant remittance of Shs193bn to the National Treasury.
With the recent entry of new players like ITHUBA Uganda, the government is setting its sights on even greater accomplishments. It is projected that collections from lotteries and gaming will soar to at least Shs300bn in the 2024/25 financial year. ITHUBA, having invested a staggering Shs51.8bn as Uganda’s first national lottery operator, has already set up jackpots totaling Shs2.8bn for a variety of games.
The ripple effect of these developments is expected to result in the national lottery generating an impressive Shs87bn in gaming tax revenue and another Shs60bn in non-tax revenue. The primary focus within the sports subsector for the upcoming financial year will be on the construction of Hoima Stadium, with an estimated cost of Shs280bn, as well as the much-needed renovation of Namboole Stadium.
Excitingly, Parliament has given a nod of approval for a budget of Shs152bn specifically allocated to the Hoima stadium project. This forms part of Uganda’s collaborative Pamoja bid with other East African nations to secure the hosting rights for AFCON 2027. The current budget also includes a substantial sum of Shs110bn designated for the construction of training facilities across the country.
In response to the government’s decision, a representative from ITHUBA Uganda shared their enthusiasm, stating, “We are proud to be a part of this exciting initiative that not only enhances the gaming industry but also contributes to the overall development of sports infrastructure in Uganda.”
As Uganda gears up for a pivotal period in the realm of sports and gaming, the anticipation for the future is palpable. With ambitious projects in the pipeline and collaboration at the forefront, the stage is set for a promising trajectory towards success.
