SJAK set to launch Benevolent Fund for members

Sports Journalists Association of Kenya (SJAK) has embarked on a Benevolent Fund initiative to support members in times of bereavement, health issues, and redundancies.

Speaking Monday during the SJAK Financial Literacy Workshop sponsored by ABSA Bank Kenya in Nairobi, CGTN Sport Lead, Mutwiri Mutuota, said there is need for a robust sports media welfare program that will come in handy when SJAK members deal with the bereavement of close family members, health issues, redundancies, and retirement planning.

"We are living in an environment where constrained earnings and opportunities in the media are causing many journalists, especially those working in sports, to slide further down into poverty. By establishing a welfare vehicle and benevolent fund, SJAK members can cushion themselves against the adverse effects of the prevailing harsh environment," said Mutuota.

Mutuota was speaking during the financial literacy empowerment workshop conducted by ABSA Bank Kenya ahead of this year's ABSA Kip Keino Classic Continental Tour which is set for this weekend at Nyayo National Stadium, Nairobi.

ABSA Bank Kenya Head of Asset Management, Elizabeth Irungu, called on sports media practitioners in the country to live within their means as they protect their revenue streams.

The workshop comes at a time when the media industry in the country is struggling with massive job cuts.

The seminar also trained the journalists on investments, retirement, saving, spending, insurance, banking, and the bank’s sports sponsorship initiative as well as Media Houses and Public Relations partnerships.

"Never make investment decisions in haste. You should always spread your portfolio across multiple asset classes, bonds, equities, and real estate among other facets. In every income that you receive, do your due diligence and shift money in line with the set personal goals," advised Irungu.

The Head of ABSA Bank Brand and Marketing Peter Waweru, Nation Media Group ,Sport Lead Editor (Print) James Mwamba, Standard Media Group's photojournalist Stafford Ondego were among the speakers at the pre-championship media seminar.

The seminar also impacted valuable technical tips for journalists who will cover the international showpiece in the country that will see athletes compete for top honours earning both prize money and world ranking points.

The yearly tour was launched in 2020.

SJAK President James Waindi acknowledged that the association needed the welfare scheme and appealed to ABSA to join forces to make it a reality.

"I want to thank ABSA for this timely workshop on matters financial literacy. Financial literacy is a concern and especially to journalists who in whichever way are not able to save for rainy days but with this seminar, I believe we will have a change of mind going forward. We look forward for more partnerships with ABSA," said Waindi.