Next Narrative Africa has launched The Next Narrative Africa Fund fund in partnership with HEVA Fund, a creative industries-focused investments, advisory, and knowledge solutions group. The announcement was made during the United Nations General Assembly (UNGA).
The fund will raise and deploy Ksh. 3.8 billion (USD 30 million) in equity financing and Ksh. 1.2 billion (USD 10 million) in grants to support high-impact audio-visual content made in Africa over the next four years. This fund seeks to drive innovation, economic growth, and job creation, in Africa’s TV, Film and New Media sectors.
By attracting new partners and capital, The Next Narrative Africa Fund will enable audio-visual creatives on the continent and the diaspora to tell powerful and authentic stories. It will also develop commercially appealing content offering investors a strong return on investment while simultaneously transforming Africa’s creative industries.
Spearheaded by Akunna Cook and Wakiuru Njuguna, The Next Narrative Africa Fund will offer up financing for the development, production, and marketing of projects that confront and shift long-standing narratives about Africa. Akunna Cook is the CEO and Founder of Next Narrative Africa, who recently led Africa policy at the U.S. Department of State as Deputy Assistant Secretary of State for African Affairs. Wakiuru Njuguna, Managing Partner at HEVA Fund is an investment expert who has led the development and innovation of novel hybrid financial models that combine the best elements of venture capital and impact investment.
With initial support from the William and Flora Hewlett Foundation and anticipated additional philanthropic and private investment, the fund will also establish a Venture Studio where creatives can incubate their ideas. The fund will be guided by a strategic advisory board consisting of entertainment executives, filmmakers, film distributors, and experts in narrative change, such as Darcy Heusel, Neon, Areej Noor of Statement Films, Dominic Buchanan of Home Team, and Chin Okeke of Misan Partners.
Speaking on the launch of the fund, Akunna Cook, CEO and Founder of Next Africa Narrative Africa shared, “Africans on the Continent and in the diaspora have always been at the forefront of shaping global culture. So, we’re excited to support creatives who aspire to not only entertain, but to also inspire and usher in a new narrative about Africa and people of African descent. By supporting fresh narratives from Africa and its diaspora, we’re making a mark in diversifying the stories being told – and this is long overdue.”
On her part, Wakiuru Njuguna, Managing Partner at HEVA Fund added, “With this new fund, we are taking significant steps forward in investing in the TV and Film sector—not just aiming for strong financial returns, but also generating meaningful employment and promoting sustainable, long-term growth across the continent. Drawing from years of experience, we have witnessed the profound impact this industry can have throughout Africa. We’re especially excited about the potential for job creation, particularly for youth and women.”