NCBA Bank Kenya PLC and HEVA Fund have signed a landmark Memorandum of Understanding (MOU) to launch a comprehensive suite of financial products, directly addressing the critical funding gap faced by creative artists and enterprises across Kenya.
The partnership, announced at the NCBA Creative Economy Summit and the Elev8 LIVE album launch, commits to a shared-risk financing model with a target of unlocking up to Ksh. 1 billion in capital for the sector.
Recognizing the irregular income cycles and informal nature of many creative businesses, the partnership will adopt a 50:50 shared-risk capital match structure. This model reduces barriers to entry for creative entrepreneurs and ensures financing terms are responsive to the realities of project-based income.
The partnership will offer five specific, tailor-made financing products:
- Event Financing
- Invoice Discounting
- LPO Financing
- Working Capital Financing
- Start-Up Incubator Financing
These products are designed to provide access to capital for essential needs such as production, equipment, marketing, touring, digital distribution, and business development.
John Gachora, NCBA’s Group Managing Director, highlighted the need to integrate creatives into the mainstream financial system: “Kenya’s creative economy is vibrant, fueled by outstanding talent that merely requires the right resources. Most creative artists and enterprises operate independently, making them unseen by financial institutions. With the HEVA Fund partnership, we are developing a financial ecosystem that creatives rightfully deserve—one that understands the unique nature of creative work, irregular income cycles, and the need for flexible, sustainable financing.”
Wakiuru Njuguna, Managing Partner at HEVA Fund, emphasized the economic impact: “This partnership reflects the growing commercial confidence in the viability and economic importance of creative MSMEs, which are now an increasingly visible contributor to our national GDP. In partnership with NCBA, we are unlocking even more capital for small and growing creative businesses, ensuring they can build, scale, and compete sustainably. This is a crucial step in accelerating their role as engines of innovation, youth employment, and economic transformation.”
Motif Di Don, founder and lead producer at Elev8 LIVE Studio, praised the support for emerging talent: “Talent is everywhere, but opportunity is not. With NCBA and HEVA Fund, we now have a stronger bridge between creativity and real financial empowerment. For emerging artists, the NCBA Elev8 LIVE platform is already redefining their future in music, and now this financing will provide the essential capital to match their creativity.”
This partnership combines HEVA Fund’s long expertise in creative financing, research, and policy with NCBA’s financial strength and regional reach.