The National Lottery Authority and KGL Technology Limited are collaborating to set up welfare fund to aid the gaming industry.
With the new fund, the NLA seeks to improve revenue generation and create more funds for government.
In a statement signed its spokesperson, the NLA expressed confidence in boosting the operations of the Lotto Marketing Companies to raise more funds for government.
Below is the statement
The Board of KGL Technology Limited, in consultation with the leadership of both the National Lottery Authority(NLA) and Association of Lotto Marketing Companies(ALMC), will set up a Welfare Fund aimed at availing funds to be accessed solely by all officially licensed Lotto Marketing Companies under the National Lottery Authority(NLA).
The fund seeks to promote the shared objective of improving revenue generation, by enhancing operations of Lotto Marketing Companies under the Authority. The Boards and Leadership of KGL, NLA and Association of Lotto Marketing Companies are in final stages of discourse to settle on the seed amount as well as the criteria and modalities for Lotto Marketing Companies to access funds, which will go a long way to address the welfare challenges and concerns.
KGL Technology Limited, although the driving force behind this initiative, is an equally licensed Online Lotto Marketing Company that owns and operates Keed-NLA's online and *959# platform.
KGL Technology Limited through the Keed-NLA's suite of online games, remains committed to both the revenue generating objectives and welfare of the collective. It is with this intent that, KGL Technology Limited is leading the charge and committing sustainable financial and resource investment into Corporate Social Responsibility aligned to the National Lotto Act 722.
Technology is constantly evolving, and digitalization is quickly becoming the mainstay of consumer preference. It is in response to these trends the National Lottery Authority(NLA), aligned to Government's policy on digitalization, has adopted and is currently exploring digital solutions to safeguard and augment the revenue generating capacity of existing lottery sales channels.
A core mandate of the National Lottery Authority(NLA) is to market and sell differentiated lottery products to create a viable revenue stream for the Government's development agenda.
KGL Technology Limited's operation of the Keed-NLA's online and *959# platform and its subsequent positive impact on growing revenue and player acquisition has fast become an integral wing of the National Lottery Authority(NLA). KGL's efforts in assisting the Authority to achieve its goal for the Consolidated Fund have been even more significant with the challenges of the Coronavirus pandemic.
Together, the NLA, KGL Technology Limited, and Association of Lotto Marketing Companies will take pragmatic steps to improve the conditions of the collective body of Lotto Marketers starting with this Welfare Fund. All finalized details after the discourse will be communicated to all stakeholders in due course.