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New law to increase gaming investments

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The Gaming and Lotteries Authority has said the coming in of the new law, the Gaming and Lotteries Act of 2022, will sanitise the gaming and lotteries sector and bringing more investors.

The authority’s Chief Executive Officer Rachael Mijiga said this in an interview following the passing of the Act by Parliament last week.

Mijiga said currently, there are 12 businesses that operate in the gaming and lotteries industry but with the law, the sector will be more regulated and sanitised and more investors will join.

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She said the board wants the sector to contribute substantially to the national economy.

“The potential is huge because gambling adds colour to other businesses because there are a lot of multiplier effect on hospitality, employment and entertainment among others and the expectation is the same for Malawi and the potential is huge and with technology, we are bringing in more exciting things,” she said.

The law, among other things, has seen the merge of operations of Malawi Gaming Board and National Lotteries Board, forming the Gaming and Lotteries Authority.

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Under the new law People found allowing under age betting will be fined K25 million on the spot and adverts will have to pass through the authority for scrutiny before they are published or aired in the media.

Mijiga added that the forming of the authority will give them a bigger mandate which will result in more sanity for the industry and gave thanks to all stakeholders who helped for its passing.

“We would want this law to start working as soon as possible but there are processes that I have to be followed so we respect the processes but we just hope that it will be as soon as possible,” she added.

The law is now awaiting President Lazarus Chakwera to assent to it before it starts operating in Malawi.

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