Español · Français · English · Português
The Vice President of the Republic, in charge of National Defence and Security, H.E. Teodoro Nguema Obiang Mangue, chaired a meeting to review the situation of the nine betting operators active in Equatorial Guinea and examine the preliminary findings of the investigation into their activities.
According to the information presented at the meeting, five of these companies are alleged to be operating outside the law, with indications of substantial tax evasion and the employment of workers without employment contracts. Cases of companies operating without the required licences were also reported.
According to the legal assessment presented at the meeting, Equatorial Guinea’s legislation recognises only three forms of gambling: tombolas, casinos and lotteries. It was therefore stated that the online betting activities under investigation would not be covered by the current legal framework.
The investigation also concerns allegedly irregular transfers of funds abroad, both in cash through Cameroon and through cryptocurrencies to other countries. According to the information presented, these transactions were allegedly carried out through a Malian national identified as Mamadou Mayga, known as “BABA”.
The cases examined include 1XBET, which is alleged to have transferred approximately US$4,234,000, an amount put at more than CFA 2,409 million in the information presented. These transactions form part of the matters currently under investigation.
The meeting also examined the situation of Bettomax, which holds an authorisation valid for ten years. According to the information presented, this authorisation would be contrary to the regulations, as the administration does not recognise this type of permit. The investigation also focuses on the actions of the then Minister of Tourism, Rufino Ndong Esono Nchama, to clarify the circumstances in which the authorisation was granted and determine any potential responsibility.
In view of the reported irregularities, a temporary suspension of the activities of all nine betting operators has been ordered pending the conclusion of the investigation, clarification of each company’s situation and the enforcement of outstanding tax obligations. Responsibility for any other irregularities established during the proceedings will also be determined.
Leave a Reply