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Betway Zambia has announced temporary suspension of operations in the country on account of announced imposition of 10 percent exercise duty on betting business .
In June this year, Finance and National Planning Minister Situmbeko Musokotwane imposed 10 percent exercise duty on betting activities.
“We regret to inform you that, due to the implementation of a new 10 percent excise duty, we have made the difficult decision to temporarily pause our operations,” the company said in a notice posted on its website on Friday.
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Betway insisted that this measure had created an environment that was no longer fair or sustainable for both customers and business.
It added that: “Please rest assured that your funds are safe and available for withdrawal at your convenience.”
The company assured that all open bets would be settled as usual, with any winnings paid out immediately.
It said Betway remained committed to its customers and values and that it looked forward to resuming operations once a fair and balanced solution was in place.
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