Investment and advisory group HEVA Fund, has unveiled a $5 million (approximately KSh 644 million) initiative aimed at addressing the financial challenges faced by Kenya’s creative sector.
Through strategic partnerships with four financial service providers (FSPs) and two aggregator platforms, HEVA has introduced two innovative financial products; Ota Kopa and Ota Kopa Plus, designed to empower creatives and promote sustainable growth across the industry.
The newly launched products will provide accessible financing to over 7,000 creatives. All these with a specific focus on young women, refugees, and people with disabilities.
Applicants can secure funding of up to KSh 999,999 under Ota Kopa and between KSh 1 million and KSh 4,999,999 under Ota Kopa Plus.
The initiative targets businesses working in Fashion, Film/TV, Content Creation, Live Music and Theatre.
"Our goal is to expand the pool of capital available to the sector and ensure access to affordable, responsive financial products and business advisory services," said HEVA’s Managing Partner Wakiuru Njuguna.
"These partnerships position us to empower creatives, bridge the financial gap, and generate dignified and fulfilling employment opportunities in the creative sector.’
The initiative is made possible through collaborations with leading financial and aggregator platforms, including Longitude Capital, Tenakata Ltd, Kenya Bankers Sacco, Lipa Later Ltd, Shop Zetu, and Wowzi.