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Kenyan sports journalists have been equipped with essential financial knowledge as they prepare to cover the fifth edition of Absa Kip Keino Classic.
Absa Bank Kenya has empowered Kenyan sports journalists with essential financial literacy tips ahead of the highly anticipated Kip Keino Classic Continental Tour.
In a workshop, organised in collaboration with the Sports Journalists Association of Kenya (SJAK), Absa sought to equip journalists with the knowledge needed to manage their finances effectively in the challenging economic climate.
Elizabeth Irungu, the Head of Asset Management at Absa Bank Kenya, emphasised the importance of prudent financial management, urging sports media practitioners to live within their means to safeguard their revenue streams.
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"Never ever make any investment decision in haste," Irungu advised. "You should always spread your portfolio across multiple asset classes and do your due diligence before allocating funds according to your personal goals and economic developments."
The workshop, held at a Nairobi hotel, addressed various financial topics including investments, retirement planning, saving strategies, insurance, banking, and Absa Bank's sports sponsorship initiatives such as Kip Keino Classic and Kenya Open.
This financial literacy empowerment seminar was timely, given the challenges faced by the media industry in Kenya, including job cuts and financial constraints. It aimed not only to enhance journalists' financial literacy but also to prepare them for covering major sporting events like the Kip Keino Classic effectively.
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Peter Waweru, the Head of Brand and Marketing at Absa Bank, and Mutwiri Mutuota, Sports Lead at CGTN, were among the speakers who shared their expertise during the seminar. Mutuota highlighted the urgent need for a robust sports media welfare programme, emphasising the challenges journalists face in maintaining financial stability.
“We are living in an environment where constrained earnings and opportunities in the media is causing many journalists- especially those working in sports- to slide further down into poverty,” said Mutuota.
“Many are struggling to deal with bereavement of close family members, health issues, redundancies and retirement planning. By establishing a welfare vehicle and benevolent fund, SJAK members can cushion themselves against the adverse effects of the prevailing harsh environment,” he added.
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The financial literacy workshop served as a valuable resource for sports journalists as they prepare to cover the fifth edition of the Absa Kip Keino Classic Continental Tour, scheduled for Saturday 20 April at the Nyayo National Stadium.
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