Athletics Kenya (AK) and Housing Finance Corporation (HFC) have signed a memorandum of understanding (MoU) to address the housing needs of over 64,000 athletes who are members of the federation.
Under this new partnership, athletes will have the opportunity to register for a Nyumba Yangu savings account provided by HFC Group. Through this account, athletes will be able to save and raise a minimum deposit of 12.5 per cent, as required by the partners.
During the signing ceremony, Sports Cabinet Secretary Ababu Namwamba commended both entities for their vision and commitment to improving the welfare of athletes.
He emphasized that affordable housing is a key priority for the government, acknowledging that Kenyan sportspeople have often been affected by inadequate housing conditions.
“This partnership has the full support of the government under the leadership of His Excellency President William Ruto. Affordable housing is a significant focus for us,” Namwamba stated. He encouraged all athletes, even those who already own homes, to take advantage of the program, highlighting the range of housing options available.
AK President Jack Tuwei expressed his optimism about the partnership, recognizing the long-standing issue of athletes experiencing financial difficulties after retiring from their sports careers.
“This marks the beginning of a process to reverse the trend where many athletes excel on the world’s most prestigious tracks but have little to show for it in their post-athletic lives,” Tuwei explained. He emphasized that Kenyan athletes deserve a fulfilling and secure life, free from worries about basic needs.
HFC Group CEO Robert Kibaara expressed the organization’s pride in honoring Kenyan athletes through this initiative. He recognized the significant role athletics plays in Kenya’s reputation and global recognition.
Kibaara urged athletes to explore the other products and services offered by HFC Group, emphasizing the company’s commitment to supporting athletes throughout their active careers and into retirement.
As part of the partnership, athletes will also receive training on financial management and gain awareness about affordable housing options.
This collaboration between AK and HFC aims to provide a stable and secure future for Kenyan athletes, ensuring they have access to affordable housing and the necessary financial knowledge to manage their resources effectively.
