Content creators in the North Rift region have expressed concerns over lack of structures in the financial sector to support them.
Led by Eldoret-based Gospel singer William Getumbe, the content creators argue that currently, there is no bank that has developed a product specifically meant for those in the entertainment industry.
This, Getumbe noted was despite the fact that Kenya is shifting focus on its education system to nurturing talents at a young age under the Competency Based Curriculum (CBC).
“CBC is all about identifying and nurturing talents at a young age but so far, which bank has a product that can support a talented child who needs financial support?” the musician posed.
He spoke during an interview on Upendo FM, Friday.
Entertainment industry
“The truth is that, Kenyan financial sector is yet to allign itself with CBC,” he added.
Getumbe noted that entertainment is a huge industry that can play a critical role in the country’s economy.
However, he lamented that it has been ignored, unlike other countries such as Nigeria which has heavily invested in it.
“The entertainment industry in Nigeria is doing well because financial institutions have developed products to help key industry players who are the content creators,” he noted.
Getumbe added that in Kenya, an artist can not secure a loan on the basis of him being in the industry.
“Banks and other financial institutions must develop products for content creators so that they can be supported financially to advance their talent and earn more money.”
MCSK royalties
Most content creators, especially artists depend on shows to earn a living as their music don’t generate enough.
Further, a majority of them earn peanuts from the Music Copyright Society of Kenya (MCSK) interms of royalties paid annually.
“MCSK gave me Ksh679 as royalties for the last one years which is not enough to cater for my needs,” Getumbe said.
“The government needs to look into this issue of royalties payment,” he added.
