Nairobi — The government has unveiled plans to provide financial literacy education to sports stars in the country.
Deputy President Rigathi Gachagua who spoke at the inaugural Great Chepsaita Cross-Country Run 2023 at Chepsaita Chepkemei Primary School in Uasin Gishu County on Saturday, said there is a need to equip the athletes with financial literacy to ensure they utilize their income prudently.
Gachagua stressed the importance of educating athletes on how to invest their earnings, saying, “Athletes earn substantial incomes, and as a government, we intend to educate them on prudent financial management to prevent them from facing financial hardships in the future.”
He noted that despite their significant earnings from both local and international competitions, many athletes have found themselves facing financial difficulties and living uncomfortable lives as they age.
Gachagua emphasized the government’s desire to assist these athletes in becoming savvy investors, enabling them to secure their financial well-being for years to come.
Gachagua urged athletes to channel their earnings into legitimate and reputable businesses to protect themselves from fraudsters. He cautioned against seeking shortcuts in life and falling victim to scams, warning, “We cannot legislate away all scammers and con artists.
People must exercise caution and understand that easy opportunities are often too good to be true.”
Gachagua revealed that the government has undertaken measures to complete the construction of all unfinished stadiums across the country, including the Kip Keino Stadium in Eldoret and the Kamariny Stadium in Elgeyo Marakwet County. He reiterated the government’s commitment to investing in inspirational champions who work to secure the nation’s future.
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Highlighting the broader impact of events like the Great Chepsaita Cross-Country Run, Gachagua emphasized the importance of raising awareness about issues such as illicit alcohol, doping, and substance abuse.
He praised the event’s participants as ambassadors for positive change, saying, “These young athletes are ambassadors for themselves and their peers. We will invest in these inspirational champions who are dedicated to securing our nation’s future, extending beyond today’s race.”
The Great Chepsaita Cross-Country Run 2023 drew a distinguished lineup of veteran champions, including World Marathon Champion Eliud Kipchoge and Tegla Loroupe, along with prominent leaders like Sports Cabinet Secretary Ababu Namwamba and Farouk Kibet, President William Ruto’s aide and the patron of the annual event. The event symbolized a significant step toward enhancing the financial literacy and overall well-being of Kenyan athletes, while also promoting positive societal change.
