Ever wondered how much your favourite radio show hosts pockets at the end of the month, and live lavish? Well, wonder no more, Kenyan Tribune has the exact figures.
Classic 105’s Maina Kageni gets most Kenyans to work with the well selected tunes and the well deserved laughs especially on a Monday morning but how much does the living large show host make?
Rumour had it that Kageni made more than a member of parliament, pocketing a whooping Sh1.2 million but according to documents seen by Kenyan Tribune, the morning show host takes home Sh655,070 at the end of every month.
Then right next to Kageni is the Reverend himself, Shaffie Weru who at one time is quoted by the Pulse saying that, ‘I get a lot of money. Its Jackpot money.‘ But that is not entirely true.
Mr Weru who will be making a TV debut alongside Grace Msalame and the hype man himself, DNG, takes home at least Sh365,000 per month.
What about the radio queen, you may ask? Well, Caroline Mutoko’s cheque is definitely fat as she gets to walk away with Sh960,000 every single month.
Kenyan Tribune can also disclose that the Radio Africa Managing Director Martin Khafafa despite parading his “girlfriends” in a risky bathroom picture, Something that made Social Media Guru and Number Government & Corruption Critic Cyprian Nyakundi to be banned from Twitter makes a little over one million shillings.
Khafafa can according to his paycheck afford more than the two girlfriends. He makes Sh1.058 million every month.
Next is your favourite comedian, Daniel Ndambuki alias Churchill, chief executive of Laugh Industry. Word around town had it that he takes home slightly over a million every month.
But the Kenyan Tribune investigative desk can reveal that Mr Ndambuki does not make as much as his co-host, Maina Kageni. He takes homes Sh380,248 at the end of the month.
The Kiss Drive host Lynda Nyangweso aka that chick Lynda pockets Sh127,747 while her co-host Jeff Mote gets Sh104,548 every month.
The newest addition to the Kiss 100 family, Cate Sidede takes home Sh76,221 while the news anchor Beryl Oywer makes Sh39,985.
Kenyan Tribune has also learnt that the Score host and sports presenter Carol Radull’s package is over Sh370,000.
But what caught Kenyan Tribune’s attention is that while some make six figures, others languish in poverty taking home a meager Sh8,000.
Below is a list of all workers at Radio Africa Group Ltd. & what they pocket at the end of the day.
Radio Africa Group owners; William Pike, Ghanian Patrick Quarcoo and the Kittony Family in 2014 sold 49% of their stake to South Africa’s leading media group, Times Media Group (TMG).
It operates top radio stations in Kenya, including Kiss FM, Radio Jambo, East FM, X-FM, and Classic 105. It also owns Kiss TV, The Star newspaper and MPASHO, the gossip online tabloid.
World Bank pushes G-20 to extend debt relief to 2021
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.
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.
Kenya’s Central Bank Drafts New Laws to Regulate Non-Bank Digital Loans
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.
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.
Scope Markets Kenya customers to have instant access to global financial markets
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.
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.