Banks Urged To Introduce Special Funds For Those In The Creative Industry

An Eldoret-based gospel has challenged the banking sector to support growing talents in the creative industry and boost the work of artists, actors and musicians by introducing special funds that can allow them to get soft loans.

Speaking during an interview on one of the local radio stations, William Getumbe who also advocates against stigma use by adults said many Kenyans in the creative industry are struggling to make ends meet because of support from many financial institutions to support them.

“Most artists are feeling the pinch of the high cost of living and high taxes.MCSK gives very minimal incentives to musicians,” Getumbe said.

Getumbe said many talented youths who have ventured into different economic-generating activities in the creative industry have stagnated because of financial challenges. He said many of them who have created content and have good products can’t make a profit due to the challenges of finances.

He urged banks to come up with measures to support resourceful upcoming youths with talents and their initiatives especially on social media as a way of empowering them through talents.

Getumbe who has been recognised as a champion of advocacy against the stigma of adults who use diapers due to different health conditions supported the competence-based curriculum system of education saying it exposes learners to creative work that plays a major role in shaping their future as dependent citizens.

“The banks should support the creative industry and young people who have shown innovativeness and their great ability in different skills that can empower them economically. Such support will our sustainability and improve our output as a sector,” Getumbe noted.

The musician said the government and Music Society of Kenya programs incentives are limited and not sufficient in developing and nurturing talents to ensure that the sector remains a significant contributor to the economy.

“The banking product should be for all content creator, since content is regarded as intellectual property, just like land, shares etc, please help me out with this,” he said.

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