Kenyas Athletics Endowment is commemorating a substantial financial gain, accumulating an unprecedented 48.2 billion Kenyan shillings from wagering proceeds. This considerable amount, approximating 322.9 million US dollars, will be allocated to reinforce diverse societal advancement programs nationwide.
Founded by the administration, the endowment’s principal objective is to foster the expansion of athletics, execute novel incentive frameworks for sportspersons, and furnish critical assistance to the arts and societal progress domains.
Minister Ababu Namwamba proudly proclaimed that throughout the preceding five years, the endowment has effectively directed 48.2 billion Kenyan shillings from betting earnings into these essential areas. He further detailed that a substantial portion of this sum, 41.7 billion shillings, has already been distributed to sustain athletics, arts, and societal schemes.
The athletics domain emerged as the most significant recipient, obtaining a considerable portion of the funding – a staggering 65% of the total disbursement. These funds are designated for investments in Kenyan athletes and strengthening the nation’s athletic facilities. Societal advancement programs received a commendable 30%, while arts and culture obtained 5%.
Athletics Kenya is heavily investing in its stars, as per a Pulse Sports article! A new financial incentive program seeks to both acknowledge and inspire their athletes to achieve new heights. A hefty 5 million Kenyan shillings will be awarded to athletes who shatter world records.
The program’s inaugural beneficiaries are Faith Kipyegon and Kelvin Kiptum, both of whom delivered outstanding performances at the World Athletics Championships in Budapest.
Kenya’s Sports Cabinet Secretary, Ababu Namwamba, highlighted the government’s substantial increase in rewards for Olympic medalists. Gold, silver, and bronze medalists will now receive a considerable 3 million, 2 million, and 1 million Kenyan shillings, respectively.