Kenya’s creative industry just got a major boost. NCBA Bank and HEVA Fund have signed a groundbreaking MOU to roll out tailor-made financial products designed specifically for artists, musicians, and creative entrepreneurs.
The announcement came during the NCBA Creative Economy Summit and the Elev8 LIVE album launch—a high-energy celebration of emerging talent and the evolving Kenyan music scene.
What’s New for Creatives?
HEVA and NCBA are introducing five financing solutions that directly address the unique challenges of the creative sector:
- Event Financing – for concerts, festivals, and shows
- Invoice Discounting – to ease cash flow gaps
- LPO Financing – supporting supplier contracts
- Working Capital Financing – for day-to-day operations
- Start-Up Incubator Financing – to nurture new creative ventures
These products will help creatives access capital for production, equipment, marketing, touring, digital distribution, and business growth.
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Why It Matters
Kenya’s creative economy contributes 5.3% of the country’s GDP annually, with over 300,000 entrepreneurs driving innovation and cultural growth. Yet, access to finance has long been the sector’s biggest hurdle.
NCBA Group MD John Gachora explained:
“Kenya’s creative economy is vibrant and promising, but most artists operate informally, outside traditional financial structures. With HEVA, we are building a financial ecosystem that understands irregular income cycles and offers flexible, sustainable financing.”
Shared-Risk Financing
The partnership adopts a 50:50 capital match model, where NCBA and HEVA jointly assess and support creative businesses. This shared-risk approach makes financing more flexible, aligning with project-based income and seasonal revenue patterns common in the arts.
HEVA’s Managing Partner Wakiuru Njuguna added:
“This partnership reflects growing confidence in creative MSMEs as engines of innovation, youth employment, and economic transformation.”
Elev8 LIVE: Talent Meets Opportunity
At the heart of this initiative is Elev8 LIVE Studio, led by top producer Motif Di Don. The studio offers:
- Access to professional recording facilities
- Digital storytelling and distribution support
- Mentorship and training on financial literacy
- High-energy live performance opportunities
Motif summed it up perfectly:
“Talent is everywhere, but opportunity is not. Elev8 LIVE is redefining the future of music by bridging creativity and financial empowerment.”
The Bigger Picture
- Kenya’s music industry has untapped potential in streaming, licensing, and live events.
- NCBA is exploring master’s as collateral, recognising intellectual property as a bankable asset.
- Financial literacy programs are helping artists learn to save, invest, and manage contracts.
This initiative is part of NCBA’s “Change the Story” sustainability commitments, which aim to empower youth and unlock new possibilities across various industries.
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