Athletes and their coaches in Iten have taken a significant step forward by forming a Sacco to efficiently manage their finances and secure their future through investments. The Chairman of Iten Athletics Sacco, Richard Kanda, proudly announced that the Sacco has already enlisted over 200 members. He emphasized that the Sacco is open to anyone interested in joining, not just limited to the athletic fraternity.
During the Sacco’s launch at the Iten Medical Training College, the Sacco Treasurer, veteran athlete Mary Keitany, strongly urged athletes, particularly the emerging talents, to become part of the Sacco. She emphasized that joining the Sacco would aid them in making sound investments for their future. Ms. Keitany expressed deep concern over the fact that numerous athletes, despite winning substantial sums, are living in poverty due to a lack of financial literacy, leading to a failure to invest their earnings.
The treasurer assured members of the Sacco’s commitment to maintaining transparency in its operations to ensure that all members benefit from their savings. Elgeyo Marakwet Governor Wisley Rotich pledged to provide training for the management team. He emphasized that the training would encompass financial literacy and also address other challenges faced by the members.
Governor Rotich pointed out challenges such as contract mismanagement, wherein athletes are often deceived out of their earnings by unscrupulous managers. Additionally, he stressed that the Sacco, by fostering unity, would ensure that athletes receive the necessary psychosocial support. Keiyo North DCC Julius Maiyo expressed his confidence in the Sacco, stating that Saccos generally offer low interest rates, providing members with opportunities to access affordable loans, make investments, and grow, thereby contributing not only to their individual development but also to the nation’s progress.
