HEVA Fund, in collaboration with Agence Française de Développement (AFD), has opened the round 2 of its Growth Fund facility for creative businesses.

Starting from Monday 19th April 2021. Businesses will now be able to apply for the facility through the Growth Fund page. The Growth Fund is open to mature creative businesses in Kenya who need financing of between Ksh. 5 million to Ksh. 10 million for the following purposes.

  • Expansion of production capacity.
  • Increase in production efficiency via purchase of equipment, software or more.
  • Entry into new markets, either in Kenya or across the Eastern African/African region.
  • Offering of new products in their market of choice.
  • Meeting of existing gaps in working capital requirements.

Since its previous Growth Fund call for applications in February 2019, HEVA has expanded the eligible creative economy value chains significantly to include many more creative and cultural industry sub-sectors. Businesses in the following diverse areas of creative and cultural enterprise can apply.

  • Fashion, apparel and accessories
  • Film
  • Photography
  • Digital creation
  • Gaming
  • Live music and cultural festivals
  • Design and home furnishings
  • Education applications
  • Cultural tourism
  • Craft
  • Cultural food and cuisine offerings
  • Cultural infrastructure

HEVA’s Growth Fund is one of the facilities that have been reopened this year, with the intent to further launch more new opportunities for creative enterprises in the wider Eastern Africa region.

Since September 2013, HEVA Fund has invested in over 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.

About HEVA’s Growth Fund

The fund is a debt  facility, and HEVA is looking to invest between KES 5,000,000 and KES 10,000,000 with a repayment period of 48 months maximum, in each successful business.

Eligible creative businesses

  1. Fashion, apparel and accessories
  2. Film
  3. Photography
  4. Digital creation
  5. Gaming
  6. Live music and cultural festival
  7. Design and home furnishings
  8. Education applications
  9. Cultural tourism
  10. Craft
  11. Food and cuisine
  12. Cultural infrastructure

Other requirements

  • Your business must have a minimum of 3 permanent employees
  • Your business must have valid financial statements for at least 4 out of the 5 years
  • Your business must have annual revenues KES 10,000,000 and above
  • Your business must have assets that can be used as collateral