NCBA and HEVA Launch Creative Economy Financing to Empower Kenya’s Artists

NCBA Bank and HEVA Fund have unveiled a new partnership that introduces creative economy financing tailored to artists and creative enterprises across Kenya. The two organisations signed an MOU during the NCBA Creative Economy Summit and Elev8 LIVE album launch, marking a major step toward easing long-standing financial barriers for creatives.

Under the deal, the partners will roll out five specialised products Event Financing, Invoice Discounting, LPO Financing, Working Capital Financing and Start-Up Incubator Financing to help creatives access capital for production, equipment, marketing, digital distribution, touring and business development.

NCBA and HEVA Launch Boost Kenya’s Growing Creative Sector

The new creative economy financing model responds to years of frustration within Kenya’s creative community. Despite tax incentives that attracted foreign studios to the country in 2024, many local artists continued to feel left out due to the informal nature of their work and limited access to credit.

NCBA Group Managing Director John Gachora said the partnership is designed to finally bridge that gap.

He noted that while Kenya hosts one of Africa’s most vibrant cultural sectors, many creatives remain invisible to traditional financial institutions because they operate as individuals or unregistered businesses.

“With the HEVA Fund partnership, we are developing a financial ecosystem that creatives rightfully deserve one that understands irregular income cycles and the need for flexible, sustainable financing,” Gachora said.

The creative economy financing partnership uses a shared-risk approach where NCBA and HEVA Fund match capital at a 50:50 ratio. This allows the institutions to offer flexible terms that align with the project-based and seasonal nature of creative work.

HEVA Fund Managing Partner Wakiuru Njuguna said the collaboration strengthens confidence in creative MSMEs, which continue to grow as contributors to Kenya’s GDP.
“Together with NCBA, we are unlocking more capital for creative enterprises so they can build, scale and compete sustainably,” she said.

Motif Di Don, founder of Elev8 LIVE Studio, praised the partnership for extending real financial empowerment to emerging talent. He said the NCBA Elev8 LIVE platform is reshaping the future for young musicians by offering mentorship, studio access, performance opportunities and training on earning and investing.

Kenya’s creative industry contributes more than 5.3% to the national GDP, with over 300,000 entrepreneurs active in the space. Yet access to tailored financial support remains the biggest challenge.

The introduction of creative economy financing marks a significant step in closing that gap. It also aligns with NCBA’s ‘Change the Story’ sustainability commitments, which aim to uplift youth and expand opportunities through inclusive, impactful financial solutions.

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