Kenyan athletes have every reason to smile after Athletics Kenya and CPF Finance services on Thursday launched The Mwanariadha Pension Initiative.
This move is aimed at easing financial constrains once athletes retire.
The initiative seeks to raise funds for athletes and is an umbrella for two schemes; a voluntary retirement benefits scheme for active athletes known as the Mwanariadha Pension Plan and an Endowment Fund to cater for retired athletes, who are in need, known as the Athletics Kenya Veterans Endowment Fund.
“Athletics Kenya envisions this initiative as a testament to the power of sports in building engaged, inclusive, and thriving communities. The ripple effect of this collaborative effort is expected to extend beyond the realm of athletics, leaving an indelible mark on the socio-economic landscape,” Athletics Kenya president Jackson Tuwei said during the launch.
The Mwanariadha Initiative goes beyond addressing the immediate financial needs of athletes; it is a strategic step towards building a foundation for a financially secure future.
By leveraging various channels and activities, including a series of events and sporting activities, the initiative aims to raise funds and garner support from corporate entities and key stakeholders.
“This launch marks the commencement of a new era in athletes’ welfare and sets stage for an ongoing partnership that will redefine the standards for supporting athletes in their pursuit of excellence,” said Cabinet Secretary Ministry of Youth Affairs, Creative Economy and Sports, Ababu Namwamba.
“As the Mwanariadha Pension Initiative takes off, it signals a resounding call to action for all stakeholders to unite and champion the cause of athletes, ensuring that their contributions to society are not only celebrated but also reciprocated with the support they deserve.”
On his part, CPF Financial Services CEO Hosea Kili said they are thrilled to spearhead this collaborative initiative as they anticipate shaping the future of athletes through the joint commitment.
“We are committed to enhancing the well-being of athletes through the promotion of robust financial stability and establishing a seamless partnership.
We firmly believe that our collective endeavors will catalyse substantial progress in the field of sports, fostering positive transformation and substantial investment in the sector,” said Kili.