HEVA Fund signs MOU with the Kenyan Government to conduct study on fashion SMEs

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HEVA Fund has signed a Memorandum of Understanding (MOU) with the Kenyan Government to carry out a study of Uhuru Market with an aim of helping fashion SMEs improve their businesses. The study partners also includes the Presidential SME office, and Nairobi County.

The study is a pilot project that aims to establish the Uhuru Market as a center of excellence. It also wants to develop a scalable partnership model that can be replicated in other markets in the country and generate insights that can help transform small businesses. The collaboration between the Kenyan Government and HEVA will have a Phase 2 rollout to other markets in the country in the near future.

HEVA will conduct an Action Research Project and will seek to help small fashion and apparel producers and retailers reduce inefficiencies, and increase value addition. The project hopes to deliver investment, skills building, and research and over 1000 small businesses.

HEVA has conducted similar studies and reports in the past. They include Fashion Value Chain in Kenya (2016), the Ethiopian Fashion Industry Scoping Report (2017) and most recently, four Ease of Doing Business Reports for the creative sector focused on Music, Film and Digital Content, Fashion, and Gaming and E-sports (2018).

Since September 2013, HEVA Fund has invested in 20 creative businesses. The businesses include; Katungulu MwendwaItikadiMambo Pambo,  OgakePeperukaAprelle Duany and WazawaziVictor Peace and Thomson Photography. HEVA plans to raise Ksh. 500 Million to invest in creative businesses as part of its 2018/2022 strategic plan. It currently has three active funds worth Ksh. 106 million which it plans to invest in creative businesses in Kenya.

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