NAIROBI, Kenya, Mar 11 – HEVA Fund has announced a $5 million investment in the creative industry through two newly launched financial products, Ota Kopa and Ota Kopa Plus, aimed at increasing financial access for creative entrepreneurs.
In partnership with Longitude Capital, Tenakata Ltd., Kenya Bankers Sacco, Lipa Later Ltd., Shop Zetu, and Wowzi, HEVA is set to finance over 7,000 creatives, with a strong focus on young women, who make up 70% of the target group.
The funding aims to address longstanding financial barriers in the industry, ensuring creatives can access capital to grow their businesses.
“We are delighted to enter into these partnerships to disburse a total of $5 million (approximately KSh 644 million) to individuals and enterprises in the cultural and creative industries,” said Wakiuru Njuguna, Managing Partner at HEVA Fund.
“These loans will empower creatives to unlock their potential and contribute to strengthening the country’s creative and cultural sector.”
The new financial products will support creatives in fashion, garments, and accessories; film, television, content creation, gaming, and audiovisual; and live music, theater, and performing arts.
Through Ota Kopa, creatives can access up to Sh999,999, while Ota Kopa Plus provides loans ranging from Sh1 million to Sh5 million. The funding will also cater to refugees (10%) and people with disabilities (5%), further expanding inclusivity.
“With Ota Kopa and Ota Kopa Plus, our mission is to ensure that no creative, regardless of background, is left behind in accessing funding,” Ms. Njuguna added.
The involvement of financial service providers and aggregator platforms strengthens HEVA’s ability to deploy funding efficiently.
Speaking on behalf of the financial partners, Michael Monari of Longitude Capital highlighted the need for such interventions.
“We recognize that there will be challenges, including reaching those in remote areas, but we are committed to restoring the dignity of the sector. Our goal is to challenge the biases about the industry and demonstrate that it can provide profitable, fulfilling, and dignified livelihoods.”
HEVA Fund has raised $42 million through strategic partnerships, directly investing in over 120 creative enterprises across East Africa.
It has also built the capacity of 14,000 creative practitioners, providing crucial business support and insights to strengthen the industry.
