Premium
Creative Economy Bill promises tax breaks and IP protection for Kenya's young innovators
Principal Secretary for Youth Affairs and Creative Economy Fikirini Jacobs.
With the countdown to this year's Pwani Innovation Week, which is set to take place from October 27 to 31 in Mombasa, now underway, momentum is building not only for the celebration of innovation, but also for the debate surrounding the proposed Creative Economy Bill 2024.
Speaking to Showbuzz at a media briefing ahead of the Pwani Innovation Week event, Fikirini Jacobs, the Principal Secretary for Youth Affairs and Creative Economy, said that his ministry is pushing for the Bill to be passed into law, stating that, besides offering tax incentives, it will solve the major problem of monetisation that is crippling the Kenyan creative economy.
“We are committed to expediting the passage of the Creative Economy Bill 2024. This legislation will provide a structured framework for monetisation, offer financing and tax incentives, and remove regulatory bottlenecks that have long stifled the creative economy sector, which is largely dominated by young Kenyans.”
The Bill's big promise
Once enacted, the Bill aims to address three critical gaps: the management and promotion of the creative industry; regulation and policy support; and the protection of intellectual property, especially ideas born in remote or marginalised communities.
“Too often, we see young people from under-resourced areas come up with globally relevant ideas that get lost or hijacked due to a lack of protection and support. This bill will ensure such creativity is safeguarded, scaled up, and celebrated.'
With Kenya’s youth making up the majority of the population, Jacobs emphasised the importance of tailored solutions. He positioned events such as Pwani Innovation Week as vital spaces for sparking localised responses to national and global challenges.
“Most of the issues we face, from economic stagnation to social disconnect, have answers within our youth. Platforms like Pwani give us a glimpse into what’s possible when innovation meets support.’
Now in its sixth year, Pwani Innovation Week 2025 will run under the theme 'Pwani Reimagined: Youth Agency, Innovation and the Sustainability of Coastal Economies”. The event, held at the iconic Swahili Pot Hub, is expected to attract a large audience.
