Government through Ministry of Finance and Economic Planning has signed a 10-year contract with Ithuba Holdings Limited to run Uganda National Lottery.
Through their local company, Ithuba Uganda Limited was issued with a license and this marked the start of business in Uganda.
Ministry of Finance through National Lotteries and Gaming Regulatory Board issued the licence to Ithuba Uganda Limited.
The Nation Lottery is one of the tools conducted by or on balf of the Ministry responsible for finance with a view of raising funds for defined purposes.
Finance Minister, Matia Kasaija welcomed issuance of signing of the national lottery agreement with Ithuba Uganda Limited. He said the above initiative shall support the implementation of the national budget, national development plan and good causes in areas of public infrastructures, education, health and sports development.
“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” Minister Kasaija said at the signing ceremony that took place at the Ministry headquarters.
Kasaija further called on Ugandans to participate in National Lottery to enable government to achieve the above objectives.
Ithuba Uganda Limited board chairperson Bob Kabonero said the issuance of the licence and official signing of the partnership between Ithuba and Uganda Government is 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” Businessman Kabonero said.
He said in recognizing the youth as a driving force of this nation, they acknowledge that the National Lottery can play a pivotal role in nurturing underdeveloped yet widely cherished sectors that include recreational sports, the arts, and youth programmes.
NLGRB board chairperson Aloysius Mugasa Adyeri revealed that Ithuba Uganda Limited had secured irrevocable funding to fiancé the operation of the National lottery as it shall construct an in-country data centre.
“As a board, we are confident that the National Lottery shall contribute significantly to raising the required revenue for funding government programmes but also promote social responsibility through its operations”
NLGRB Acting Chief Executive Officer Mr Denis Mudene Ngabirano said the journey to bring Ithuba on board started in December 2021 in their quest for a suitable candidate to conduct the National Lottery.
“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”. Mr Ngabirano said.