SportPesa shareholder and former chairman Paul Wanderi Ndung’u has been ordered to pay for the costs of a lawsuit he had filed against the betting firm and lost in the United Kingdom (UK).
High Court Judge, Justice Edwin Johnson sitting in the Business and Property Courts of England and Wales ordered Mr. Ndung’u to cover the respondents’ legal costs, including an interim payment of £548,000 (Ksh 266,767, 459.20 million) to the First Defendant SPG Limited formerly known as SportPesa Global Holdings Limited.
Mr. Ndung’u was further ordered to pay £1,600,000 (Ksh27, 572, 8640.00) to the Second to Sixth Defendants, who include Mr Ivaylo Peteve Bozoukov, Mrs Kalina Lyubomirova, Mr Guerassim Nikolov, Mr Gene Grand and Naogen Investment INC payable by 4:00 p.m. GMT on 9 January 2026.
The Court also declined his applications for permission to appeal, bringing the matter to a definitive close.
SportPesa welcomed the decision by of the UK High Court, which saw the case instituted by Ndung’u against the betting firm and its affiliated parties being dismissed.
“This ruling reinforces SportPesa’s longstanding commitment to operating lawfully and responsibly in all the markets we serve. In Kenya, this commitment has been recognised by the Kenya Revenue Authority, which has named SportPesa a top taxpayer for three consecutive years. We remain dedicated to driving innovation, supporting sports, and delivering exceptional service to our customers,” said Ronald Karauri, CEO of SportPesa Kenya.
On November 18th, 2025, a London court has delivered a major setback to SportPesa shareholder and former chair Paul Wanderi Ndung’u after ruling that his allegations of fraud, conspiracy, and illegal dilution of his stake in SportPesa Global Holdings Limited (SPGHL) were unsupported by evidence.
Ndung’u had accused the company’s directors and shareholders including Guerassim Nikolov, Gene Grand, Kalilina Lyubomirova, former Makadara Member of Parliament (MP) Dick Wathika’s widow Asenath Wachera, and others of orchestrating a scheme to improperly reduce his shares from 17% to 0.8% between 2019 and 2022. He also alleged forgery and claimed the firm’s conduct had been oppressive and financially prejudicial to him.
However, in a detailed judgment, Justice Johnson found that Ndung’u failed to substantiate any of his claims. The court ruled that the dilution of shares was lawful, necessary, and undertaken to stabilise the company financially during a turbulent period for the betting giant.
