Invest your money well so that you don’t retire into poverty, Standard Chartered bank boss tells athletes

With the effects brought about by ravaging Covid-19 pandemic, the Standard Chartered bank has partnered with Kipkeino Foundation to equip athletes with financial literacy in their lifestyle.

The program will ensure that the athletes do not squander their finances after running but instead they will find ways to invest for future use after retiring from athletics or in a case of any windfall that comes their way.

Speaking to press after training at Kingari Teachers College in Embu North that brought together veterans and upcoming athletes, the CEO Standard Chartered bank Kariuki Ngari urged the athletes to employ skills they were taught to better their lives.

Kariuki said that already they have reached out to over 500 athletes in this training program in seven counties across the country.

''The response to this program has been overwhelming to athletes because of the tips we are giving them so that when they go there and run for Kenya either outside Kenya or here in Kenya and win money, they know what to do with it. That is the call for this training that they are able to put that money in good use and in event they retire, they are not retiring to poverty,'' said Mr Ngari.

Do well

Lidah Onyango from SMES Support Centre noted that the training will enable the athletes to develop a business idea, single out potential customers and where entrepreneurship can do well with the competition scaling. Ms Onyango said many athletes find themselves in confusion when they win money from running because many lack knowledge on how they can invest and they end up misusing the money.

''You find many athletes are below 35 years and once they get money, they find themselves in confusion not knowing what they should do with it. Many use it to party and that is how it ends.

Please athletes use the methodology we have told you to better your lives,'' said Ms Onyango.

Stephen Nkaiwuatey, an athlete said since the Covid-19 invaded the country, many athletes have suffered because sporting activities had been suspended and with the knowledge now, they have acquired through the training they will be able to employ the skills once they get money through different Marathons.

The Standard Chartered bank boss also encouraged runners to come out in large numbers in October for its Marathon so that they can compete for the funds so that they can practice skills they have grasped. However, he said they will limit the athletes because of Covid-19 restrictions.

He noted that they are targeting about 5,000 runners who will participate in the main event and also they will have a virtual race where they will use the technology to tag those who will be running from different areas of the globe to know their pace.

 Story by BRIAN MUSYOKA