The government will no longer rate films and music that are pirated and those involved in piracy will face the full force of the law, Kenya film Classification Board CEO Ezekiel Mutua has said.
Dr Mutua committed to protecting the right of artistes to earn from the sweat of their brow in an operation that will involve the Kenya Copyright Board and the law enforcers.
“The narrative that content has to be dirty to sell is a fallacy. It’s misleading and entirely an agenda of perverts who want to ruin our moral fabric,” said Dr. Mutua.
He cited a survey by the Board that shows that 70 per cent of Kenyans want clean content.
The numbers could be more but a baseline survey done by KFCB recently shows that 90 per cent of Kenyans want regulation of content to remove vulgar and obscene content out of the watershed period
To solidify his argument he cited Skiza tunes used on mobile phones and disclosed that out of the top twenty earning Skiza tunes 18 of them are Gospel songs.
Dr Mutua also encouraged Kenyans to buy original music because that is the only way they would be guaranteed of continued good music and film.
He was speaking at a retreat for officials of three newly accredited Content Management Organisations at the Simba Lodge, Naivasha.
Speaking at the same event, the Kenya Copyright Board Executive Director Edward Sigei assured Kenyans that the new CMOs will be true to the interest of performing and recording artistes.
“We have a binding commitment with the CMOs to pay 70 per cent of all they collect and only use 30 per cent for management and logistics,” he said.
He was allaying fears that in the past CMOs have squandered most of artistes’ collections paying them pittance.
Performers Rights Society of Kenya (PRISK) Board Chairman Ephantus Kamau has reached out to hotel owners, public transport operators, online content distributors and other consumers of music to cooperate with the CMOs so as to give musicians their due monies.
His counterpart Japheth Kassanga who is the new Chairman of the Music Copyright Society of Kenya termed the new office a new dawn for musicians and he committed to live up to the expectations of registered members.
“We are ready to shed our past and from now on things will be different,” he assured.
The Kenya Association of Music Producers (KAMP) Chairman Anthony Murimi noted that with the three CMOs the work of sensitization and mobilization has become lighter and more efficient.
Kenya Copyright Board and Kenya Film Classification Board have entered into a partnership to work together towards fighting piracy in the country. They are working together to train Board members of the licensed Collective Management Organisations on good corporate governance.
During the two day workshop funded by KFCB it was announced by Mr Timothy Mutinda the Administration Manager at KAMP that over Sh 14 million will be distributed in July from KAMP alone.
According to statistics from PWC research in 2017 Kenyan media and entertainment market was worth 210 billion.
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.