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7 odd ideas bringing in the money : The Standard

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Ever wondered how to tell a friend they smell? Someone was bothered enough by the number of people who struggle to navigate this social minefield that they turned this problem into a business.
Or have you ever felt your love life is spectacular enough that everyone the world over should be able to read about it? Someone else saw the opportunity in pandering to people’s desire for fame.
The beauty of entrepreneurship is that you can build a business by solving nearly any problem a group of people are facing.

SEE ALSO :How online beggar makes over Sh391,800 a month

Hustle compiled seven businesses that were built off unusual problems in the hope that they inspire you to think beyond the normal to find your business idea.
MyFriendSmells.com
We’ve all faced that uncomfortable situation where a friend, family member or colleague has a body odour problem. But do you tell them and risk them hating you for your honesty, or do you leave them to find out from ulimwengu?
The good news is that you don’t have to suffer in silence as you wait for someone to step up and handle that odour situation. For the small price of $1.99 (Sh200), you can anonymously send your friend a cologne wipe in the mail.
The company assures you that you don’t have to worry about this loud hint encouraging them to ‘smell like a champ’ being traced back to you, as the package is untraceable.

SEE ALSO :7 millionaire habits that build wealth

YourNovel.com
If you’ve ever dreamt of being the star of your own romance novel, YourNovel.com has you covered.
The company gives you a number of options to choose from, with different themes, locations and the opportunity to add in details about your actual or fantasy life; whatever works for you.
It doesn’t come cheap at $49.95 (Sh5,000) for a paperback, with an additional Sh3,000 charged if you want to front cover to use your photo.
Wearable human remains

SEE ALSO :Simple ways to cash in on Valentine’s

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Losing a loved one is hard, and one company wants to help you hold on to them a bit longer.
While most families that opt for cremation keep the ashes of their loved ones in an urn that’s then displayed in their houses or offices, Purple Cloud Studio, an art glass studio, wants you to carry these ashes with you everywhere with wearable jewellery.
The company creates custom keepsakes using the ashes of beloved family members and pets. Michele Palenik, the artist behind this business, asks clients to ship her half a teaspoon of remains, which she then seals in glass pendants that can be worn around the neck, and bowls or paperweights, which are easier to carry around.
Snake massage
There are thousands of massage options available these days. In fact, you don’t even have to get a massage from a human being. The practice of using non-venomous snakes to help relieve tension and relax muscles and joints is a trend that’s gaining ground across the world.
Send glitter to your enemies
Are you angry at someone and looking for a passive-aggressive way to get back at them?
Why not send them glitter? Anyone who’s dealt with glitter knows how difficult it is to clean up. For that reason, some enterprising business owners offer services that ship glitter to your enemies or to friends you want to prank.
Shipyourenemiesglitter.com, for instance, allows you to ship an envelope-full of glitter to an address anywhere in the world at $9.99 (Sh1,000) and assures you the recipient will be finding it everywhere for weeks.
The invisible boyfriend/girlfriend
Tired of being asked about your relationship status, yet you’re single? You no longer have to constantly dodge questions from friends and relatives about why you don’t have a boyfriend or girlfriend; there’s an app to the rescue.
Invisible Boyfriend, and its partner service Invisible Girlfriend, can help you fool people into thinking you’re taken without forcing you to deal with the drama of an actual relationship.
You can customise your ideal partner, including their personality, likes and dislikes, and come up with a story on how you met.
Once you’ve registered this on the platform, you can then begin to interact with them via text messages, which you can show your nosy friends as evidence of your relationship.
The full service, which includes 100 texts and a personalised postcard, costs $24.99 (Sh2,500) a month.
Professional wedding guests
Can’t raise enough people on the guest list for your upcoming nuptials? There are services that will help you hire professional wedding guests to fill seats at your wedding or similar events. It works similar to those hustles in the village that provide professional mourners for funerals.

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World Bank pushes G-20 to extend debt relief to 2021

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World Bank Group President David Malpass has urged the Group of 20 rich countries to extend the time frame of the Debt Service Suspension Initiative(DSSI) through the end of 2021, calling it one of the key factors in strengthening global recovery.

“I urge you to extend the time frame of the DSSI through the end of 2021 and commit to giving the initiative as broad a scope as possible,” said Malpass.

He made these remarks at last week’s virtual G20 Finance Ministers and Central Bank Governors Meeting.

The World Bank Chief said the COVID-19 pandemic has triggered the deepest global recession in decades and what may turn out to be one of the most unequal in terms of impact.

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People in developing countries are particularly hard hit by capital outflows, declines in remittances, the collapse of informal labor markets, and social safety nets that are much less robust than in the advanced economies.

For the poorest countries, poverty is rising rapidly, median incomes are falling and growth is deeply negative.

Debt burdens, already unsustainable for many countries, are rising to crisis levels.

“The situation in developing countries is increasingly desperate. Time is short. We need to take action quickly on debt suspension, debt reduction, debt resolution mechanisms and debt transparency,” said Malpass.

ALSO READ:Global Economy Plunges into Worst Recession – World Bank

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Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans

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The Central Bank of Kenya (CBK) will regulate interest rates charged on mobile loans by digital lending platforms if amendments on the Central bank of Kenya Act pass to law. The amendments will require digital lenders to seek approval from CBK before launching new products or changing interest rates on loans among other charges, just like commercial banks.

“The principal objective of this bill is to amend the Central bank of Kenya Act to regulate the conduct of providers of digital financial products and services,” reads a notice on the bill. “CBK will have an obligation of ensuring that there is fair and non-discriminatory marketplace access to credit.”

According to Business Daily, the legislation will also enable the Central Bank to monitor non-performing loans, capping the limit at not twice the amount of the defaulted loan while protecting consumers from predatory lending by digital loan platforms.

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Tighter Reins on Platforms for Mobile Loans

The legislation will boost efforts to protect customers, building upon a previous gazette notice that blocked lenders from blacklisting non-performing loans below Ksh 1000. The CBK also withdrew submissions of unregulated mobile loan platforms into Credit Reference Bureau. The withdrawal came after complaints of misuse over data in the Credit Information Sharing (CIS) System available for lenders.

Last year, Kenya had over 49 platforms providing mobile loans, taking advantage of regulation gaps to charge obscene rates as high as 150% a year. While most platforms allow borrowers to prepay within a month, creditors still pay the full amount plus interest.

Amendments in the CBK Act will help shield consumers from high-interest rates as well as offer transparency on terms of digital loans.

SEE ALSO: Central Bank Unveils Measures to Tame Unregulated Digital Lenders

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Scope Markets Kenya customers to have instant access to global financial markets

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NAIROBI, Kenya, Jul 20 – Clients trading through the Scope Markets Kenya trading platform will get instant access to global financial markets and wider investment options. 

This follows the launch of a new Scope Markets app, available on both the Google PlayStore and IOS Apple Store.

The Scope Markets app offers clients over 500 investment opportunities across global financial markets.

The Scope Markets app has a brand new user interface that is very user friendly, following feedback from customers.

The application offers real-time quotes; newsfeeds; research facilities, and a chat feature which enables a customer to make direct contact with the Customer Service Team during trading days (Monday to Friday).

The platform also offers an enhanced client interface including catering for those who trade at night.

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The client will get instant access to several asset classes in the global financial markets including; Single Stocks CFDs (US, UK, EU) such as Facebook, Amazon, Apple, Netflix and Google, BP, Carrefour;  Indices (Nasdaq, FTSE UK), Metals (Gold, Silver); Currencies (60+ Pairs), Commodities (Oil, Natural Gas).

The launch is part of Scope Markets Kenya strategy of enriching the customer experience while offering clients access to global trading opportunities.

Scope Markets Kenya CEO, Kevin Ng’ang’a observed, “the Sope Markets app is very easy to use especially when executing trades. Customers are at the heart of everything we do. We designed the Scope Markets app with the customer experience in mind as we seek to respond to feedback from our customers.”

He added that enhancing the client experience builds upon the robust trading platform, Meta Trader 5, unveiled in 2019, enabling Scope Markets Kenya to broaden the asset classes available on the trading platform.

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