• About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud
Friday, February 26, 2021
  • Login
  • Register
No Result
View All Result
NEWSLETTER
Kenyan Wallstreet
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Banking
    • Aviation
    • Energy
    • Manufacturing
    • Markets
    • Personal Finance
    • Technology
    • Startups
  • Podcast
  • Videos
  • Events
  • Blockchain & Digital Currencies
No Result
View All Result
Kenyan Wallstreet
No Result
View All Result

Cellulant Partners with Stanbic Bank to Offer Musicians Loan

Carolyne TanuibyCarolyne Tanui
November 27, 2018
in Kenyan News
Reading Time: 2 min
Cellulant Partners with Stanbic Bank to Offer Musicians Loan

Cellulant has announced a partnership with Stanbic Bank that will see artists in their portfolio access bank loans from their Skiza ringtone royalties.

Under the agreement, artists will be able to access direct capital for their different music project initiatives including recording, video production, event sponsorships, album production, marketing and advertising. The loan facility will also enable artists to purchase homes, land, construct, purchase cars as well as personal borrowing exclusively from Stanbic Bank. The royalties earned will guarantee the loans through a monthly check-off repayment plan, being managed by Cellulant.

Most artists receive their royalties from SKIZA. Unfortunately a majority have been seeking alternative means to get direct access to capital for their different project initiatives.

ADVERTISEMENT

The loan facilities under cellulant – stanbic partnership are:

  • Unsecured Personal Loans
  • Car Loans
  • Home Loan and Shamba Loan (Vacant Land Purchase) and Construction Loan

For one to be considered for the above facility they should be a Cellulant Skiza artist, earn more Ksh25,000 in royalties per month, have a clean Credit Reference Bureau record, show a consistent revenue growth and provide a record of Skiza payments for at least 6 months.

“This agreement with Stanbic Bank is our way of showing our musicians that we are still invested in their success and that we understand the fundamentals of growing the music business in Kenya. Now is the time to invest in our musicians as the global music industry looks towards Africa for inspiration,” said Cellulant’s co-founder and chief executive Ken Njoroge during the product launch.

Over 5,000 artists are currently signed on Cellulant’s ringtone platform since it launched its Lipuka service in 2004, run under Safaricom’s Skiza umbrella.

Lipuka allows subscribers to download their favorite ringtones whilst empowering artists to earn royalties, paid to them by Cellulant. Currently, more than 11 digital content service providers (PRSPs) work with Safaricom to both manage and collect revenues on their behalf.

“This is a multi-million shilling industry that has been neglected for a long time with no financial solutions tailored for musicians. We acknowledge that the royalties are a source of income and are now providing products based on this that will go a long way in enabling artists to accelerate their music careers,” added Stanbic Bank’s head of personal banking Dr Silpah Owich.



Hisa App
Previous Post

Kenya’s BitPesa Partners with Japan’s Insurance Company, Sompo Holdings

Next Post

WhatsApp Chief Business Officer Neeraj Arora Quits

Related Posts

KenGen Delays Release of Financial Results

Kengen’s Half-year Net Profit Dips by 38% to KSh5 Billion

February 26, 2021
Unga

Unga Group Plc Half-year Earnings drop 44.8% to KSh 83.5 Million

February 26, 2021

French Group, EDF Acquires Stakes in 2 Kenyan Energy Companies

February 26, 2021

CBK Collects KSh 26.7 Billion from Weekly T-Bills Auction

February 26, 2021

Kenya Power Posts KSh593 Million Drop in Half-Year Revenue

February 26, 2021

Portland Cement Posts KSh1 Billion Half-Year Net Loss

February 25, 2021

Nation Media Group Shares Rally on Share Buyback Announcement

February 25, 2021

Wealth Report Shows Population of Wealthy Kenyans Dropped by 22% in 2020

February 25, 2021
Load More
Next Post
WhatsApp Chief Business Officer Neeraj Arora Quits

WhatsApp Chief Business Officer Neeraj Arora Quits

Follow Us

  • 7.1k Fans
  • 113.3k Followers
  • 2.3k Subscribers
  • 453 Followers

WhatsApp

Subscribe

Telegram  

Subscribe

Podcasts

Upcoming Events

There are no upcoming events.

View Calendar
Add
  • Add to Timely Calendar
  • Add to Google
  • Add to Outlook
  • Add to Apple Calendar
  • Add to other calendar
  • Export to XML

Featured

Gamestop

Can the Gamestop Situation Happen in Kenya?

February 21, 2021
Hisa App

Announcing Hisa App Public Beta Launch

February 20, 2021
Absa Kenya CEO Jeremy Awori

Absa Marks One Year Since Transition, Commits KSh1.6 Billion into Digital Products

February 11, 2021
NSE Derivatives

How To Make Money Trading Derivatives In Kenya

February 9, 2021
Leila Fourie, JSE Group CEO

‘’Markets Recovery Don’t Imply Economic Recovery,’’ Leila Fourie, CEO Johannesburg Stock Exchange

December 31, 2020

About Us

We are a leading integrated digital content platform providing in-depth business and financial news across Sub-Saharan Africa & the globe. Kenyanwallstreet.com is a property of Hisa Technologies Ltd, a financial media & software company.

Contact Us

Kenyan Wall Street
Email: [email protected]
Website: www.kenyanwallstreet.com

Disclaimer

The information contained in this website is for general information purposes only.
Read more..

  • About Hisa Technologies
  • Advertise
  • Careers
  • Contact Us
  • Estate Cloud

Copyright 2021. Hisa Technologies. All Rights Reserved.

No Result
View All Result
  • Home
  • News
    • Kenyan News
    • African News
    • Global News
  • Business
    • Agriculture
    • Aviation
    • Banking
    • Energy
    • Global Markets
    • Healthcare
    • Infrastructure
    • Insurance
    • Investment
    • Manufacturing
    • Markets
    • Public Policy
    • Real Estate
    • Startups
    • Technology
  • Podcast
  • Videos
  • Events

Copyright 2021. Hisa Technologies. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?