Why financial literacy is key to athletes’ success

The sixth edition of the Absa Kip Keino Classic World Athletics Continental Tour Gold Series was a marvel to watch at the historic Ulinzi Sports Complex in Nairobi at the weekend.

The ultimate showdown attracted hundreds of top calibre athletes from across the globe who brought the roof down at  Ulinzi.

While some world beaters breezed to the tape to lift the glittering trophies in their individual categories, others shattered records that saw them punch tickets to the Tokyo 2025 World Championship slated for Japan in September.

Participants who excelled in the cutthroat challenge at Ulinzi were equally rewarded for their brilliance, with over Sh60 million spent on the glittering prizes that saw each category winner head home with Sh650,000, runner-up make away with Sh390,000 and Sh260,000 for third-place finishers in the core events.

In order to ensure local athletes put the healthy winnings into good use, talks are underway to equip the track conquerors with knowledge to ensure they invest and multiply the won bonuses wisely.

“The athletes really need this critical training on financial literacy. They have told us they are eager to know some of the best ways to invest the money,” Absa Bank Kenya Marketing and Corporate Affairs Director, Mwihaki Wachira, told Standard Sports.

“Financial literacy to the athletes is very key. It is something that we do consistently. We did one earlier this year in Kaptagat during the Sirikwa Classic Cross Country Championship and the turnout was massive.

“It is very special to the participants and some of the most established athletes have admitted that they wished they were furnished with this knowledge earlier enough in their careers,” added Wachira.

As title sponsors for this year’s championship, Wachira said they are happy with the turnout at Ulinzi.

“The day was good, the weather was conducive. I believe all these worked well for the participants,” said Wachira.

Wachira believes relocating this year’s Absa Kip Keino Classic showpiece from Nyayo Stadium, that is currently under renovations, to Ulinzi was a great move and a blessing in disguise to the country.

“This move has truly opened up more spaces and areas that our athletes can now train, participate and compete in,” said Wachira.

While highlighting on their long-term plan with the national athletics body, Athletics Kenya (AK), Wachira said they are proud to have been the title sponsors for the sixth consecutive year, which saw then sink Sh60million into the Absa Kip Keino Classic.

“The future of Kenyan sport, especially in athletics, lies on the youth and part of our engagements with AK involves athletes in this category. We are out to support the youth meets in the 45 camps being run by AK.”