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Prisons To Help Kiprotich Manage His Money

Frank Baine, the Uganda Prisons spokesman has said they will do everything possible to ensure that Olympic gold medalist Stephen Kiprotich uses his money productively.
Frank Baine, the Uganda Prisons spokesman has said they will do everything possible to ensure that Olympic gold medalist Stephen Kiprotich uses his money productively.

 

Baine said Uganda Prisons, where Kiprotich works, is mindful that he doesn’t blow up his money nor is conned by unscrupulous people. That is why the athlete was elevated nine ranks from a warder to an Assistant Superintendent of Prisons.

 

He explained that such a position adds more weight to Kiprotich, both among prison officers and the public.

 

Baine said while the overall onus is really on Kiprotich as an adult to use his money, nevertheless he needs some advice on how to use it productively.

 

He said they are wary of the fact that a number of successful athletes ended up paupers and would not want Kiprotich to go the same way.

 

Ever since he won the marathon at the London Olympics, Kiprotich catapulted from a poor athlete to a moneyed one literally overnight. He is worth a billion shillings to date, a rather tidy sum of money by Ugandan standards.

 

Appearing on a talk show on WBS Television on Sunday, Kiprotich said he has fund managers who are helping him on how to utilize his massive fortune.

 

The Uganda Securities Exchange last week lured Kiprotich to invest some of his money in stocks, meaning he would become a shareholder in the companies he chooses earning dividends.

 

Renowned businessman Martin Aliker in a recent interview with The New Vision newspaper attributed his wealth to investment in stocks.

Kiprotich won the 42km Olympic Marathon, becoming only the second Ugandan to win an Olympic Gold medal after John Akii Bua in 1972.

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