Nairobi, Kenya- Kenya’s creative entrepreneurs just got a major financial boost.
HEVA Fund has launched Ota Kopa and Ota Kopa Plus, two new financial products designed to unlock $5 million (Sh646 million) in funding for the country’s creative sector.
In partnership with Longitude Capital, Tenakata Ltd., Kenya Bankers Sacco, Lipa Later Ltd., Shop Zetu, and Wowzi, HEVA aims to support over 7,000 creatives, with young women making up 70pc of the beneficiaries.
Managing Partner at HEVA Fund, Wakiuru Njuguna, emphasized the significance of this initiative.
“These loans will empower creatives to unlock their potential and contribute to strengthening the country’s creative and cultural sector.”
Funding the creative economy HEVA fund launches two credit facilities for creatives HEVA fund will lend Ksh. 646 million over the next two years Artists to access unsecured loans at 9% interest rate #CitizenExplainer @YvonneOkwara
Who Gets Funded?
The funding will cater to creatives across multiple industries, including:
- Fashion, garments, and accessories
- Film, television, and digital content creation
- Gaming, audiovisual production, and performing arts
Through Ota Kopa, creatives can access loans of up to Sh999,999, while Ota Kopa Plus provides higher-tier funding ranging from Sh1 million to Sh5 million.
In a move to enhance inclusivity, 10pc of the funding will support refugees, while 5pc is allocated to creatives with disabilities.
The local creative and cultural industries sector has received a shot in the arm following the official launch of a first-of-its-kind $5 million investment by HEVA Fund to provide tailored financial solutions to creatives. @HEVAFund
Bridging the Financing Gap
Historically, Kenya’s creative industry has struggled with limited access to capital.
By partnering with key financial service providers and digital platforms, HEVA is ensuring that funding reaches the right hands efficiently.
Speaking on behalf of Longitude Capital, Michael Monari acknowledged the challenges but reaffirmed the commitment to transforming the sector.
“We recognize that there will be challenges, including reaching those in remote areas, but we are committed to restoring the dignity of the sector.”
🎉 Big News for Creatives in Kenya! 🎨🎶🎬 Today, HEVA Fund, together with our partners, an audience of creatives, media & key industry shapers, launched a one-of-a-kind investment into 2 financial facilities of $5 million, providing much-needed financial solutions to creatives.
Since its inception, HEVA Fund has raised $42 million, directly investing in over 120 creative enterprises across East Africa.
The organization has also provided business support to 14,000 creative practitioners, helping them scale their businesses and professionalize their craft.
With the launch of Ota Kopa and Ota Kopa Plus, Kenya’s creative industry is poised for growth—one investment at a time.
