The creative sector in Kenya has received a major financial boost with HEVA Fund launching a $5 million investment to support creative entrepreneurs. With over 11 years of experience in financing Africa’s creative industries, HEVA continues its mission of driving sustainable growth, innovation, and financial inclusion.
The newly introduced financial products, Ota Kopa and Ota Kopa Plus. They are designed to help over 7,000 creatives, focusing primarily on young women. HEVA is collaborating with four financial service providers [FSPs] and two aggregator platforms to roll out these products. Beneficiaries can apply for loans of up to KES 999,999 for Ota Kopa. Ota Kopa Plus offers loans between KES 1 million and KES 4,999,999.
The funds will support businesses in three key creative value chains:
- Fashion, Garments, and Accessories
- Film, Television, Content Creation, Gaming, and Audio-Visual
- Live Music, Theatre, and Performing Arts
Creative professionals such as filmmakers, musicians, content creators, photographers, makeup artists, and game developers are among those eligible. A full list of over 300 creative professions is available on HEVA’s website.
Expanding Access to Funding
HEVA’s Managing Partner, Ms. Wakiuru Njuguna, emphasized that the initiative aims to increase capital access for the creative industry while ensuring affordable financial products and business advisory services. HEVA is partnering with Longitude Capital, Tenakata Ltd, Kenya Bankers Sacco, Lipa Later Ltd, Shop Zetu, and Wowzi to distribute the funds.
A targeted strategy ensures 70% of beneficiaries will be young women, 10% refugees, and 5% people with disabilities. Ms. Njuguna stressed that the goal is to strengthen Kenya’s creative industry, create dignified employment opportunities, and close the financial gap for creatives.
Shaping a Sustainable Creative Economy
Despite the creative sector’s potential as a key economic driver, financial barriers have limited growth and innovation. HEVA’s goal is to change this by providing innovative financial solutions tailored to the sector’s needs.
Michael Monari of Longitude Capital highlighted the importance of challenging misconceptions about the creative sector, ensuring that creatives especially in remote areas, can access funding.
Over the years, HEVA has successfully raised $42 million, directly investing in 120+ creative enterprises and training 14,000 creative professionals. This latest initiative further cements HEVA’s commitment to empowering Africa’s creative economy.
