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PRESS RELEASE: Launch Of The Made In Kenya Festival 2019 – Exhibition And Call For Nominations

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Brand Kenya Board in partnership with Trace Events has launched the Made in Kenya Festival 2019. The 3 day annual cultural extravaganza is inspired by the need to provide a platform where Kenyans can appreciate and celebrate their own unique products, talent, and cuisine in its entire diversity and splendor.

The event purposes to reinforce the “Buy Kenya, Build Kenya Agenda”, which is aimed at inculcating in the mind of all Kenyan citizens, patriotism and preference for Kenyan goods and services as a means of supporting the domestic economy. The inaugural event shall be held on 5th, 6th and 7th April, 2019 in Nairobi. It is envisioned that as the festival grows, we shall share these experiences across other regions and counties of Kenya.

Speaking at the launch event, the Brand Kenya AgCEO Floice Mukabana said, “We believe that music; art, food and sport go a long way in shaping our brand values and provide a mirror to the soul of the nation. Concurrently running within the festival therefore shall be a “Made In Kenya exhibition” and sale where producers of products that are Made in Kenya can run a “Black Friday type” Sales Promotions and do business with consumers at the festival.”

The Made In Kenya Festival is the beginning of a conversation amongst Kenyans about their music, art, food, sport and products and how these emotional and functional aspects of Kenya fuse to deliver the soul of the country. It is a conscious call for all citizens to rally behind Kenya in all its offerings and deliver to the world a Kenya that is not just good for business but great to its citizens.

“Indeed we are proud to partner with Brand Kenya in this long walk to finding the soul of our country to weaving it into profit for Kenyan businesses. Trace brings global experiences in delivering great experiential events and a global platform that exposes Kenya’s music, art and culture to the world. Great country brands have been built and shared their values through music videos that capture art, dance, fashion, culture to name a few. Kenya is no exception. We must therefore seize this opportunity to first love what is “Made In Kenya” then share that love to a global platform,” said Trace East Africa CEO Steve Agutu.

Nominations

Musician recruitment

The recruitment for musicians to play at the event shall begin immediately after the launch. Part of the objective of the launch is to bring to the public domain the modalities for nomination of artists.

The nomination process shall be via the event website. A button on the landing page of www.madeinkenyafest.com shall lead citizens to fill a form nominating any artist of their choice in each of the categories or just in 1 or 2 categories.

After a 2 month nomination period, a shortlist of artists with the highest nominations shall be developed and subjected to an SMS vote.

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The winning 5 artists in each category shall be the headline artists for the music category and shall be allotted play time based on the event concept.

Dance/ Street Artists/ Acrobats

This category of performances shall be recruited via video submissions. Each artist or group of artists intending to perform at the festival shall create a 3 minute video showcasing their talent and share the video with Trace. These videos will be uploaded on the social channels of both Made In Kenya Festival and Brand Kenya Board with a modality to vote which shall include, first liking the page then liking or loving the video. The videos with the most engagement shall be shortlisted for the SMS Vote to provide performances during the festival and according to the final event concept.

All negotiations with artists shall be done by Trace Events and the final artists for the event delivered to Brand Kenya.

Important Dates

Nominations: 20th November 2018 – 31st December 2018

SMS Voting: 7th January, 2019 – 8th March, 2019

Who can be nominated?

Kenyan artists based in Kenya and in the diaspora singing in vernacular Kenyan songs, secular artists and gospel artists. Should be Kenyan citizens and when in a group the lead singer must be a Kenyan citizen.

ABOUT BRAND KENYA

Brand Kenya Board (BKB) is a state corporation established in March 2008 in accordance with the State Corporations Act (CAP. 446). The rationale behind the establishment of the Board was the Government’s commitment to put in place an integrated coordinating mechanism for building and enhancing the Country’s image and national identity and rallying its citizens behind it.

The mandate of the board as set out in the legal notice, the Brand Kenya Board Order of 15th March 2008 is as follows:

  1. To coordinate initiatives for marketing the country in order to maximize their efficiency; and
  2. To create and maintain the Kenya brand, to identify and distinguish Kenyan products, services and concepts.

 

ABOUT TRACE

Launched in 2003, TRACE is a multimedia group and brand dedicated to afro-urban entertainment. With a presence in 160 countries, Trace offers award winning TV channels, radios, mobile services, digital platforms to millennials and multicultural audiences. Trace Mziki is a pan African music channel that plays Kenya and East African music on TV platforms across East Africa and offering a global audience through Trace.

Contacts

For queries from the media, please contact:

Esther Maina of Brand Kenya Board at +254 723 058885 or [email protected]

For technical questions concerning the festival, please contact: Steve Agutu of Trace East Africa Ltd at email: [email protected]

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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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