Deadline: 19 October 2020
In partnership with the European Commission, and Agence Française de Développement (AFD), HEVA Fund has opened applications to the East Africa Creative Business Fund – an additional facility to the existing growth fund.
This fund is designed to provide financing for creative businesses to: restructure interrupted supply chains; increase production capacity; diversify offerings; increase market share; increase integration in local and regional value chains; support transition to low-touch and digital capabilities; and take advantage of new opportunities.
Through this new East Africa Creative Business Fund, as well as the active growth fund facility, HEVA aims to: build on the increasing contribution to the regional GDP by the cultural and creative industries to the region’s economy; grow dynamic, youth-led creative enterprises; increase creative business ownership, management and leadership among women, especially young women; and contribute to the growth of the East African cultural footprint in regional and international markets.
Funding Information
- The East Africa Creative Business Fund is a patient loan facility that will be made available to successful applicants through debt investments of between USD 20,000 and USD 50,000, given for a maximum of 4 years.
Eligibility Criteria
Key requirements for each application are:
- Your business must be registered and operational in one of the listed countries: Kenya, Uganda, Rwanda, Tanzania, and Ethiopia. At least 51% of company shareholders must be citizens in any of these countries.
- Your business must be able to demonstrate a resident team (permanent or part-time). The business must have a minimum of one (1) permanent employee.
- You must have valid financial statements or audited accounts for a minimum of one (1) year.
- Your business must demonstrate that it has been operating for at least two (2) years.
- Enterprises under any of the following creative economy value chains will be eligible to apply: fashion; crafts and handmade items; furnishings and decorative home; cultural tourism; creative and cultural education; cultural food and cuisine; cultural infrastructure (spaces, equipment, platforms etc); events; digital media; film and television; photography, and music production and distribution.
For more information, visit http://www.hevafund.com/news/2020/9/1/heva-officially-opens-application-call-for-the-east-africa-creative-business-fund