AK launches Pension and Veterans Endowment Fund
Sports Cabinet Secretary Ababu Namwamba and Athletics Kenya President Jack Tuwei flanked by (from left) Mary Moraa, Beatrice Chepkoech, Isaac Kirwa, Monicah Zephania, Wiseman Were, Reynold Cheruiyot and athlete representative Milcah Chemos pose for a photo during the launch of Mwanariadha Pension initiative at Weston hotel in Nairobi on November 30, 2023.
What you need to know:
- Sports Cabinet Secretary Ababu Namwamba noted that albeit late, the launch of the new initiatives marks a new dawn in the history of Kenyan athletics and called on other federations to take queue
- AK President Jack Tuwei said the initiative was conceived after a report they commissioned over five years ago revealed a damning and sorry state the athletes were living in across the country.
- Namwamba said the two initiatives are unique schemes that the government has intended to install so as to provide a fallback plan to athletics careers that have a short life span
Athletics Kenya (AK) has launched the Athletics Kenya Veterans Endowment Fund and The Mwanariadha Pension Initiative as the government forked out Sh20 million in support of the projects.
Sports Cabinet Secretary Ababu Namwamba noted that albeit late, the launch of the new initiatives marks a new dawn in the history of Kenyan athletics and called on other federations to take queue.
Namwamba said the Sh20 million donation from the Sports Fund will benefit Athletics Kenya Veterans Endowment Fund and The Mwanariadha Pension Initiative equally, adding that he will personally lead a fundraiser to enrich the Veterans Endowment Fund kitty.
AK President Jack Tuwei, who is also World Athletics Vice President and Sports, Arts and Social Development Fund (Sports Fund) chairman, said the initiative was conceived after a report they commissioned over five years ago revealed a damning and sorry state the athletes were living in across the country.
The two initiatives launched Thursday at the Weston Hotel, were attended by both retired and active athletes.
“Only eight percent of both active and retired athletes were living in fairly nice places while the rest had nothing to show,” said Tuwei, adding that most athletes retired before they reached the age of 35, living in abject poverty. “We had to do something to arrest the situation, hence the two initiatives.”
Besides the government, AK Senior Vice President, Paul Mutwii, contributed Sh2 million, CPF Financial Service Group Executive Director, Joseph Rono, donated Sh1 million to the course while Lotto Foundation CEO Joan Mwaura, pledged Sh500,000 annually to the initiative, ICEA Lion Group Assistant General Manager, Christine Mutahi, gave out Sh250,000.
Tuwei said veterans or retired athletes will not be required to contribute anything to the endowment fund, explaining that well-wishers and sponsors will, while the pension initiative is a voluntary venture where active athletes, coaches and those in the athletics family will contribute after registering.
“Board of trustees will sit down and come up with the requirements,” said Tuwei, who named renowned coach Patrick Sang, 2008 Olympics 800m gold medallist Wilfred Bungei, Peninnah Talam, Francis Kamau and Philip Ngovi to the Board of Trustees for the Athletics Kenya Veterans Endowment Fund.
“The history of where athletes live brings us to this. They deserve some improvement after bringing a good name to this country,” noted Tuwei, explaining that most of the veterans languishing in poverty won medals for the country but didn’t earn much during their days.
Namwamba said the two initiatives are unique schemes that the government has intended to install so as to provide a fallback plan to athletics careers that have a short life span.
“Athlete are prone to many challenges and having a scheme that offers them comfort is important,“ said Namwamba, who urged athletes to register for the program, promising to mobilise key partners for support.
