NCBA,HEVA Fund eyes Creative Economy for Financing Solutions

• NCBA and HEVA Fund Partner to offer Creative Economy financing solutions for artists and enterprises;

NCBA and HEVA Fund have officially signed a groundbreaking MOU to address challenges facing the creative economy sector by unveiling a suite of financial products that allow creative artists and entrepreneurs to access tiered financing solutions.

The announcement was made during the NCBA Creative Economy Summit and Elev8 LIVE album launch, an NCBA-powered celebration showcasing emerging talent and the evolving landscape of Kenyan music.

To empower the creative industries, HEVA and NCBA will offer five specific financing products: Event Financing, Invoice Discounting, LPO Financing, Working Capital Financing and Start Up Incubator Financing.

The tailor-made financial products will offer creatives access to capital for production, equipment, marketing, events, touring, digital distribution, and business development.

The vision to develop a financial instrument tailored specifically for Kenyan creatives arises from a marked surge in demand across the country’s creative sector. Since 2024, when Kenya announced tax incentives for US-based Invention Studios to attract Hollywood productions, many local creatives had one question: what about us?

At the heart of the problem is the informality that has defined the creative economy for decades.

During the Creative Economy Summit and Elev8 LIVE album launch, NCBA’s Group Managing Director John Gachora, stated, “Kenya’s creative economy ranks among the most vibrant and promising sectors, fueled by outstanding talent that merely requires the right resources and opportunities.

Financial institutions tend to engage with structured traditional forms of financial access. However, most creative artists and enterprises operate independently and are not affiliated with cooperatives or formally recognized businesses.

This is why they remain unseen by financial institutions and investors.

With the HEVA Fund partnership, we are developing a financial ecosystem that creatives rightfully deserve, one that understands the unique nature of creative work – irregular income cycles, and the need for flexible, sustainable financing. “

The financing model adopts a shared-risk approach where HEVA Fund and NCBA jointly assess and support creative businesses through a 50:50 capital match structure.

This reduces barriers to entry for creative entrepreneurs while ensuring that financial products remain responsive to the realities of creative business cycles.

By sharing risk, both partners can offer more flexible terms that account for project-based income and seasonal revenue patterns common in the creative sector.

This partnership combines HEVA Fund’s in-depth expertise that spans beyond a decade in tailored financing for creatives, research, policy, and investment with NCBA’s leading financial muscle, digital capabilities, regional reach, and commitment to integrating creatives into mainstream financial services and Change The Story of their financial wellness.

Wakiuru Njuguna, Managing Partner at HEVA Fund, “This partnership reflects the growing commercial confidence in the viability and economic importance of creative MSMEs, which are now an increasingly visible contributor to our national GDP.

Over the past 12 years, HEVA has pioneered innovative financial products tailored to the unique needs of creative enterprises.

This experience has shown us the immense potential and resilience within the sector.

In partnership with NCBA, we are unlocking even more capital for small and growing creative businesses, ensuring they can access the financing they need to build, scale, and compete sustainably.

This confidence in the sector will accelerate the growth of creative enterprises across the country and strengthen their role as engines of innovation, youth employment, and economic transformation.”

Motif Di Don, founder and lead producer at Elev8 LIVE Studio, added, “Talent is everywhere, but opportunity is not. For years, Elev8 LIVE has been committed to nurturing raw music talent and giving young artists a fighting chance.

With NCBA and HEVA Fund, we now have a stronger bridge between creativity and real financial empowerment.”

He added,” For emerging artists, the NCBA Elev8 LIVE platform is redefining their future in music, and providing studio access, mentorship, digital storytelling support, high-energy live performance opportunities and training on how to earn, save and invest for a sustainable financial future.”

The creative economy contributes over 5.3% of Kenya’s GDP annually, with more than 300,000 creative entrepreneurs actively shaping the sector.However, lack of access to finance remains the single biggest constraint to the industry

This partnership is a key milestone within NCBA’s ‘Change the Story’ sustainability commitments to delivering real, inclusive, and impactful solutions that uplift the youth and unlock new possibilities.