The third session of KBA’S my chat with a bank CEO online event is set to be hosted by Joseph Njuguna CEO of Rafiki Microfinance Bank. This is the last of the three online chat events being hosted by the Kenya Bankers Association in March 2022. The session will cover intellectual property as possible collateral for youth loans.
How to Register for the CEO Chat
The chat room will open on 25th March 2022 at 9:30 A.M East African time while the session with the CEO starts promptly at 10:00 am. Users will have the ability to post comments and questions to the CEO on a first-come-first-served basis.
Interested participants are called to register on the KBA website here. Insert your name and email address. Type the desired password and you should receive an email from KBA confirming your registration
Intellectual-property as possible collateral for youth loans.
Intellectual Property is among the types of collateral that can be used under the Moveable Property Registry to access credit. On the back of the rapid growth of the creative industry and ICT sector in Kenya, the need to accommodate Intellectual Property as collateral has expanded. The ICT sector has also expanded, extending Intellectual Property items that can be used as collateral.
This edition of my Chat with a Bank CEO, therefore, aims to shed light on ways by which Intellectual Property—particularly developed by the youth— can be leveraged to facilitate access credit. One of the key challenges has been the informal nature of most creative enterprises, lack of sufficient business management skills, and low levels of awareness on existing opportunities of access to formal credit.
What is Intellectual Property Rights?
Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.
Intellectual property rights are customarily divided into; Copyright and rights related to copyright and Industrial property rights.
Copyrights include the rights of authors of literary and artistic works (such as books and other writings, musical compositions, paintings, sculpture, computer programs and films) are protected by copyright, for a minimum period of 50 years after the death of the author. While Industrial property rights are characterized as the protection of distinctive signs, in particular, trademarks
According to a report by the British Council, Kenya’s creative sector contributes 5 per cent to the national GDP, creating jobs and is a contributor to a happier and healthier lifestyle. There is no doubt that the creative industry, ICT, and research have great potential for banks to extend credit.
With appropriate institutional, policy and regulatory reforms among other private sector related reforms, including the utilization of the Moveable Property Registry, Intellectual Property could become a key catalyst to economic growth and development by doubling its contribution to the GDP in a sustained manner.
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