The World Africa Boxing Association (WABA) is working with the Bumaco Insurance Company Ltd to create a scheme that would guarantee WABA Champions affordable health insurance and pension scheme on retirement.
WABA will structure these costs by adding “Insurance and Retirement Benefits” in its sanction fees to be paid to Bumaco Insurance Ltd or its third-party partner in the country of residence for foreign boxers.
The pension scheme intends to safeguard boxers during their training, title fights, and when they retire from boxing also.
WABA intends to appoint Mr. Godfrey Madaraka Nyerere who is the son of the Tanzanian founding President as the Coordinator of the scheme in cohort with Ms. Aliya Kwayu-Sinare who manages Bumaco Ltd has more than 30 years’ track record for providing consulting services.
Bumaco Ltd is an internationally recognized management consultant with an enviored and proven record in management and consultancy which fits well the scheme protect boxers’ lives inside and outside the ring and guarantee them better lives after they hang-up gloves.
WABA has authorized Bumaco Limited to initiate the discussion with several social security funds such as the National Social Security Funds (NSSF) regarding the retirement part of the scheme.
Watch this space for further updates…
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