President Uhuru devices new strategies to increase money in your pocket
SEE ALSO :The curse of handshake“Political power pursued its own sake will not make us the great nation we want to become. We must, therefore, use politics to shift the economy and address the plight of the most vulnerable members of our society. We must use politics to better the livelihoods of Kenyans. If we use politics as a means to a greater end, we will give politics meaning. And this is my intent for this year” said Uhuru Kenyatta. He lauded removal of interest rate capping law on loans noting the move will facilitate the availability of more credit to businesses, which will, in turn, increase the circulation of money. He urged Central Bank of Kenya to use the full range of instruments of regulation and policy at its disposal to prevent predatory lending and ensure that banks can offer loans at affordable interest rates. He said the government is going to support the Micro, Small and Medium Enterprises, which accounts for more than 80 per cent of businesses and creates 75 per cent of jobs in the country. He said Biashara Centres will be established across the country to provide a huduma type of one-stop-shop to provide business development services under one roof.
SEE ALSO :Uhuru to open Naivasha SGR stationThe first Biashara Centre is fully functional at Kariobangi in Nairobi. “I have an intention in 2020 to increase the money in the pocket of the farmer. This will be achieved by directing our anti-corruption efforts against those managing the agricultural sector and exploiting their positions for illegal gain and trading in the conflict of interest.” He called for the restructuring of the governance and marketing systems of the Kenya Tea Development Authority to deliver more revenue to farmers. He directed KTDA to immediately explore the option of paying farmers no less than 50 per cent for their deliveries as monthly payments with the balance being paid as an annual bonus. As part of the President’s intent to the milk farmers, he directed Treasury to release Sh 500 million to New KCC to purchase excess milk from farmers to convert it into powder milk for future use.
For the entertainment industry, he directed the ministry of ICT to work with all stakeholders to resolve the legacy issues that have plagued rights holders for decades. Content Service Providers who work with digital platforms such as SKIZA and Viusasa will be eliminated. And this is because they sit outside the Collection Management Organisations. My practical direction on this is to have all rights holders register on the National Rights Registry. And to receive royalties, he said content service providers will be required to channel all payments of royalties through a single, centrally managed account at the Kenya Copyright Board. This will enable oversight by the regulator and ensure that the collection and distribution accounts are easily auditable.
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