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Nairobi to host first ever Sports Finance Conference

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Cbinet Secretary for Sports, Arts and Culture Hassan Wario.PHOTO/FILE

Cbinet Secretary for Sports, Arts and Culture Hassan Wario.PHOTO/FILE

NAIROBI, Kenya, June 22 – Nairobi will host the first ever Sports Finance Conference in Africa from July 14 -15.

Endorsed by the Ministry of Sports, the conference will bring together both local and international stakeholders to catalyze the commercialization of sports in Kenya.

Cabinet Secretary for Sports, Arts and Culture Hassan Wario said the government has created the requisite platform for sports commercialization by coming up with the sports act.

“We hope to use The Sports Act as a special purpose vehicle to sanitize and invigorate sponsorships. The sports act will catalyze sports commercialization. We also encourage the private sector to come up with financial inclusion services targeting the sports space like sports banking, sports insurance and sports pension and investment services,” Wario said.

Conference Director, Stanley Omino stated Kenya has made steady progress in the commercialization of sports, however there are a few areas that stakeholders need to address to make sports more rewarding.

Omino said the conference aims to showcase the commercial opportunities available in the Kenya sports ecosystem and also have a conversation around the commercialization of the sports industry in Kenya.

This includes financial inclusion for sportsmen and women as well as developing a structured approach to securing endorsements for sportsmen and women and preparing clubs and federations for sponsorships.

“Delegates will be looking at sports banking, sports insurance and sports pension and investment services. We need to sensitize sportsmen and sportswomen in Kenya about image rights and endorsements.

There shall be discussions on emerging opportunities for sportsmen and Sportswomen ensuring they get the best deals possible without being short changed,” Omino added.

The conference will also discuss opportunities for federations and clubs to secure sponsorships to ensure that all stakeholders are happy.

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