New Bill seeks to promote, develop creative industry
Youth Affairs and Sports Cabinet Secretary Ababu Namwamba at an event in Nairobi on December 6, 2023. His ministry has drafted a law to help develop the creative industry.
Photo credit: Wilfred Nyangaresi | Nation Media Group
The government to facilitate access to incubation and accelerator programmes.
Individuals seeking funding from financial institutions will not be required to have a guarantor to access credit for their works.
The draft Bill stipulates that the Ministry will collaborate with financial institutions to formulate credit facilities tailored to the unique needs of the creative industry.
The government has mooted a grand plan aimed at promoting, cushioning and developing individuals in the creative industries.
According to the plan contained in the draft Creative Industries Bill, 2023, individuals seeking assistance from financial institutions will not require a guarantor as the government intends to establish a guarantee fund aimed at incentivising financial institutions to extend credit to the creative sector.
