Kenya's government-led Sports, Arts and Social Development Fund has reportedly earned 48.2 billion kgs ($320 million) from sports betting operations over the past five years. Established to support the development of national sports, arts, and society, the organization has reached an important milestone in its operations as it introduces a new reward system for Kenyan athletes to devote themselves to promoting sports across the country.
According to Pulse Sports reports, Sports Minister Ababu Namwamba has released figures achieved by the Sports, Arts and Social Development Fund. Nambar reportedly said the fund has distributed more than 86% of total sports betting revenue generated from 2018 to date to sports, arts and social development sectors across the country.
Fund allocation:
According to the source, the main contribution was made to the field of sports. 65% of the total assets allocated under the program are in the sports sector, with the biggest beneficiaries to invest in national athletic talent and sports infrastructure. The social development sector reportedly came next with 30 percent, followed by the arts and culture sector with 5 percent of the 41.7 billion ksi ($280 million) allocated by the fund.
On October 11, 2023, the Senate reportedly said, 'The Fund for the last fiscal year 2022/2023 realized a return of 10.4 billion yuan. The Board of Supervisors approved the lavish spending of 7.9 billion yuan in various sectors, including 6.3 billion yuan in the sports sector, 1.2 billion yuan in the social development sector and 324 million yuan in the culture and arts sector.' 바카라사이트
Compensation schemes and commitment to sports:
According to reports, some of the revenue generated from sports betting will be used to reward athletes who have achieved outstanding achievements in world sports tournaments. Therefore, the government has established a cash reward of 5 million ksh (US$33,000) for world record-breaking athletes, as reported by Pulse Sports, and the rewards have already been paid to Faith Kipiegon and Kelvin Kiptoum. The sports cabinet minister reportedly said, "The government has significantly increased the reward for medal winners to 2 million ksh and 1 million ksh for Ksh3, gold, silver and bronze medals respectively."
The government has also awarded other awards to Kenya's legendary current players and is running a meticulous selection process for the national team. Officials in Kenya seem largely committed to fully supporting the sport that has made Kenya famous around the world. Namwamba pointed out that it is important to fully comply with medical and regulatory requirements to maintain its reputation. This structural approach, coupled with compensation policies for the development of sports, is said to indicate that Kenya is fully focused on premium sports achievements.
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