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‘I squandered my allowance on flashy wear’ : The Standard

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Juvenalis Amonde

Juvenalis Amonde aka Juveh is a former TPF 4 contestant, musician, voice over artist and screen actor. He is also the band leader of Ni Sisi Band.

Where did you sharpen your skills?
I went to the National Youth Talent Academy from 2010 to 2012. The academy was a project of the government (Permanent Presidential Music Commission), Ministry of Youth and Sports as well as the Ministry of Education in conjunction with Unicef that sought to challenge and engage youth through an innovative approach that taps into their talent and in return assists them gain opportunities that support their livelihoods. All this is usually carried out in tandem with the needs of the communities where they reside.
How were you chosen to be part of the academy?
There was a countrywide audition taking two of the best in every region. I was lucky to be picked from Rift Valley to perfect my music skills.
How was your experience being there?
It was fun and life-changing. We were taught a lot in terms of music performance, vocals, stage presence, life skills and how to play different instruments.
So what were your favourite moments over there?
I loved the food (laughs). I also loved the practical lessons and music retreats in different parts of Kenya. The lessons were great. We had different trainers, some of them famous, including the late Achieng Abura, Maurice Oyando, Dave Otieno, Dr Donald Otoyo and Sylvester Otieno amongst others.
Who was your favourite trainer and why?
I loved Mr Maurice Oyando and Dave Otieno because they made me a better musician by believing in me.
Did you ever miss a lesson?
Yeah, I missed many lessons, especially when I joined Tusker Project Fame 4.
Did you have side hustles?
We were all day boarders and they gave monthly allowance to learn music. How cool is that?
How did you spend your allowance?
I spent my allowances dressing like a star, shooting music videos that never turned out to be hits by the way (laughs). Nowadays I look at them and feel that they look stupid.
What was your favourite hanging out joint?
We were not allowed to leave the compound unless with permission from the administration. So, you would mostly find me in the swimming pool and entertainment area.
Did you date while at the academy?
Yes I did date a classmate and it was all good.
How did the academy benefit you?
It made me a better musician. I had talent before, but the academy helped me refine it. Over 60 per cent of people we were with at the academy depend on music to sustain them in life. Their main career is music and those that were in sports and in film classes are doing great out there. 
Advice to those with talents?
Be patient and keep pushing forward. Your star will one day shine.  

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Juvenalis AmondeJuvehNi Sisi BandTPF



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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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