Uganda National Lottery Enters 10-Year Partnership with Ithuba
The Ministry of Finance and Economic Planning has signed a 10-year contract with Ithuba Holdings Limited to oversee the operations of the Uganda National Lottery. The contract has been granted to Ithuba Uganda Limited, a local company formed for this purpose, and marks the official commencement of lottery activities in Uganda.
The Ministry of Finance, through the National Lotteries and Gaming Regulatory Board, issued the license to Ithuba Uganda Limited. The National Lottery serves as a fundraising tool for specific purposes designated by the finance ministry, contributing to the national budget, development plans, public infrastructure, education, healthcare, and sports.
Finance Minister Matia Kasaija expressed his satisfaction with the agreement, stating “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 fulfillment of conditions stated in the agreement and the laws of the Republic of Uganda”
Ithuba Uganda Limited’s board chairman, Bob Kabonero, hailed the license issuance and partnership signing as a significant milestone: “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”
The process to finalize this partnership began in December 2021, with the National Lotteries and Gaming Regulatory Board conducting rigorous due diligence to ensure Ithuba Uganda Limited’s suitability as the operator. This evaluation encompassed factors such as the company’s financial stability, expertise, operational procedures, security measures, and player protection policies.
The agreement between the government and Ithuba Uganda Limited represents a pivotal moment for both entities, with expectations of positive contributions to the country’s economic and social landscape.