Artists and athletes to reap big from new Endowment fund

The Government has established a sports, arts and culture endowment fund that will give a major boost to the creative industry in Kenya.

This follows the effective taxation of 35 per cent of incomes from betting companies since late last year.

“In order to further spur the growth of the film industry, the Government has established a fund known as the Sports, Arts and Culture Fund at the National Treasury,” said Sports and Heritage Cabinet Secretary Rashid Echesa last week.

Speaking at the launch of a three-day Kalasha Film and TV Markets at the Kenyatta International Convention Centre, Mr Echesa announced the fund was envisaged to address the financial shortfalls currently experienced in the sector.

The news should be music in the ears of thespians and musicians, who have had to make do with minimal corporate funding and development financing by a handful of foreign missions and organisations.

“This is the best news for the film and the general creative industry ever because the fund will go a long way in boosting productions and sports across the country, unlocking much-needed jobs,” said Caroline Njoroge, the production and liaison manager at the Kenya Film Commission.

The CS also announced the ministry’s intervention to reduce the charges on drones to make them affordable to filmmakers.

“There have been concerns on the relatively prohibitive costs for the emergent use of drones in filming. Once again, we shall take up this concern and consider the possibility of concessions for filmmakers keen on this technology,” he said.

The CS said the switch from analogue to digital platforms had seen rapid growth in the number of television stations and corresponding demand for high quality content.