S. GitahiAK, HFC enter partnership to help athletes become house owners
Reading Time: 3min | Tue. 30.05.23. | 21:42
Athletes will also be trained on prudent financial management as well as the importance of planning for affordable home ownership while still active in their careers
Athletics Kenya, the governing body for the sport of athletics in Kenya, and the Housing Finance Company Limited (HFC) on Tuesday entered into a partnership that will enable tens of thousands of Kenyan athletes to own homes at affordable prices.
Through this partnership, one that was signed by Athletics Kenya president Gen (Rtd) Jack Tuwei and HF Group CEO Robert Kibaara and in the presence of Youth Affairs, the Arts and Sports CS Ababu Namwamba, the banking subsidiary will provide home purchase financing to elite athletes and other AK Members at the incentivized rates of the Kenya Mortgage Refinancing Company (KMRC).
AK Pres. Lt Gen (Rtd) Jackson Tuwei welcomes CS @AbabuNamwamba at the signing of an MoU between @athletics_kenya and the Housing Finance Corporation (HFC).The partnership is set to open avenues for sportsmen/women to leverage the corporation's expertise to owning house. pic.twitter.com/2p4zpEfC2C
— Athletics Kenya (@athletics_kenya) May 30, 2023
Further, the partnership will facilitate linkages to strategic affordable housing developers and bulk allocation of government affordable housing projects, through joint application to the State Department of Housing and Urban Development.
Seen as evidence of what Public-Private Partnerships (PPPs) can achieve as far as improving Kenyans’ standards of living is concerned, the partnership will facilitate linkages to strategic affordable housing developers and bulk allocation of government affordable housing projects, through joint application to the State Department of Housing and Urban Development.
“As a bank we are committed to strategic partnerships that enrich lives and believe that through this partnership, we will empower our gallant sports men and women to access credit and own their homes,” Group CEO Kibaara commented on the the venture he described as ‘strategic and relevant to the company’s mission of enriching lives.’
In line with our purpose,enriching lives @hfc_kenya has today entered into a partnership with @athletics_kenya that will see thousands of athletes benefit from access to affordable home ownership, financing at the incentivized Kenya Mortgage Refinancing rates... pic.twitter.com/6OOAIeNxXl
— HFC Kenya (@hfc_kenya) May 30, 2023
“Many Kenyans rely on financing for home purchase and as a bank we are well-equipped to help them navigate this journey by providing relevant home ownership savings plans and end-buyer financing options,” he added.
The athletes will also be trained on prudent financial management as well as the importance of planning for affordable home ownership while still active in their careers.
“This is a partnership that has been mooted and executed with the best interests of athletes in mind. As an athlete, one of the best ways to reward yourself for all the hard work on the track, field, road or cross country is to invest in a palatial home where you will always rest easy and reflect on your glory days in peace,” Tuwei cautioned athletes, while emphasizing on their need to use their prize monies to invest in affordable homes under the new partnership.
“You will always be filled with pride and joy when you see that all your talent never went to waste.”
The ground-breaking event was also attended by 800m Commonwealth Games champion Mary Moraa, World cross-country champion Beatrice Chebet, 3000m steeplechase record holder Beatrice Chepkoech, 400m runner Wiseman Were among others.
