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EASTERN CAPE GAMBLING BOARD
Celebrates a decade of clean audit outcomes!
The Eastern Cape Gambling Board (ECGB) is proud to announce the achievement of its 10th consecutive clean audit outcome, a significant milestone in the history of the organisation. This achievement highlights the regulator’s unwavering commitment to financial integrity, transparency and accountability in overseeing the gambling industry.
Since its inception, the ECGB has prioritised maintaining rigorous standards and robust oversight to ensure fair, ethical and operational gambling activities. Chairperson of the ECGB, Traci Mackie, said the clean audit outcomes reflect the regulator’s dedication to upholding the highest levels of fiscal responsibility and operational excellence.
CEO Mabutho Zwane commented that, “This milestone is a testament to the hard work, dedication and professionalism of the ECGB team. Achieving clean audit outcomes for 10 years is not just a reflection of our strong internal controls and financial management but also a reassurance to the public and industry stakeholders of our commitment to transparent governance.”
Zwane further stated that these outcomes underscore the regulator’s effective management of public funds and adherence to regulatory requirements, which are crucial in ensuring that the gambling industry operates within a framework of fairness and compliance, ultimately protecting and maintaining public trust.
The gambling industry has not only positively contributed to economic growth and job creation but has also played a role in the socio-economic revitalisation of some towns and provided much-needed local employment through the industry value chain with 3579 sustainable jobs while also collectively contributing R13 million towards Corporate Social Investment (CSI) initiatives.
During the year ending 31 March 2024, revenue collection of R184 million was disbursed to the provincial treasury amid unfavourable economic conditions, including high interest rates and inflation.
Traci Mackie also mentioned that the ECGB recently licensed its first Online Bookmaker – Wanejo Bets. The online licence allows bookmakers to offer premier on-demand games and compete not only with other provinces but globally. With a notable increase in sports betting of close to 47% in the country, the Eastern Cape is in a prime position to benefit and responsibly exploit this growth.
With effect 01 April 2024, the ECGB reconfigured the betting tax regime, to align with the rest of the country a move earmarked to stabalise betting industry by stopping the exudos the province experienced, and attract new businesses. The ECGB is also mindful that this growth does not adversely lead to excessive and irresponsible gambling. As such, communities are educated on responsible gambling and efforts are heightened to provide public education.
