HEVA Fund invests Ksh. 13 million in 9 creative organizations

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HEVA Fund has invested Ksh. 13 million in 9 creative organizations in partnership with the British Council as part of the Cultural Heritage Fund.

HEVA Fund opened applications in January 2019 to the Cultural Heritage Fund, to any Kenyan individuals, institutions, collectives, companies and groups proposing projects that focused on protecting and sharing Kenya’s rich cultural heritage.

HEVA invited the finalists for a luncheon at the Trademark Hotel, to celebrate their success and provide an opportunity for networking with other stakeholders in the creative economy. The luncheon was graced by the Cabinet Secretary for the Ministry of Sports, Culture and Heritage, Amb. (Dr.) Amina Mohamed, EGH, CAV, Louise Bermsjo, the First Secretary of the Embassy of Sweden, Professor Kimani Njogu, Chairman of the Creative Economy Working Group, Carol Warui, Chairperson of the Kenya Private Sector Alliance Culture, Arts and Heritage Sector Board, as well as representatives from the Executive Office of the President, AFD, Goethe Institut and GIZ.

Speaking about the finalists, Dr. Akati Khasiani, the Relationships Manager at HEVA Fund, said, “The 9 finalists are an inspiring mix of practitioners working in music, film, theatre, digital media, lifestyle and even health, who captured our imaginations, presenting thriving businesses and brilliant ideas which have already won audiences. We salute them and are proud to be part of their journey.”

“Out of this application cycle, We received a total of 142 applications from 25 counties and generated a total funding ask of Ksh. 42,335,000,” said HEVA’s Investment Manager, Ms. Wakiuru Njuguna. She added, “In total, the cumulative revenue generated by these creative practitioners and organisations in 2018 was a total of Ksh. 316,496,352.” She further remarked that HEVA had committed a total of Ksh. 13,000,000 in initial investments earmarked for their immediate business and non-business needs. These would include: purchase of equipment, publishing, event and performance production, research & knowledge sharing, marketing, licensing, certification, and digitisation of records, as well as mobility of artists.

HEVA’s 9 finalists comprises of Paukwa House, Sitawa Namwalie and Story Zetu of Too Early for Birds fame (theatre and storytelling), the Permanent Presidential Music Commission, Otieno Wakake and Wibo Culture (music), Melissa Alella (experimental animation and augmented reality), Peperuka (fashion, interiors and lifestyle), as well as Harriet Ng’ok (culture and health).

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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