Stanbic Bank Kenya’s sponsorship of the highly anticipated Boyz II Men Kenya Concert has sparked discussions about the bank’s target clientele.
With VVIP tickets priced at KSh.30,000, it becomes evident that the bank’s intention is not solely to celebrate Kenyan talent but rather to capture the attention of a specific demographic.
According to Teddy Kivuvani, a creative director, such events are about defining the people that an institution prefers to deal with as clients adding that primary target audience is identified as Generation X, encompassing individuals born between 1965 and 1980, along with the earliest members of the Millennial generation.
“This demographic is characterized by their financial success derived from years of hard work, well-managed inheritances, shrewd business acumen, investments, and a willingness to indulge in luxuries,” he said.
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The Stanbic Yetu Festival is set to take place on Saturday, June 10, in Nairobi. The Iconic American vocal harmony group, Boyz II Men are expected to grace the festival. Kenya’s music band, Sauti Sol, is also expected to feature in the much anticipated festival.
He added that conversations among this group do not revolve around topics such as high cost of living but rather focus on the impact of drought on the greens at the Golf Club. English is their preferred language, and the use of sheng is viewed as inferior.
“These individuals are considered uptown urbanites, particularly those who studied in the UK or the US and have now returned to Kenya. They exude a sense of sophistication and cultural influence, evident in their accents reminiscent of study abroad experiences,” he pointed out.
He went ahead to explain that, while there are other groups within this demographic, these distinctions are well-defined, the concert’s name itself, “Yetu Festival,” reflects the exclusivity and selective nature of this clique, which continues to thrive based on social status.
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It’s worth mentioning that Stanbic Bank Kenya previously brought Anthony Hamilton, further highlighting that their focus is not on those who prefer to dance to local beats in large Thika Road clubs, despite their financial means.
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