HEVA to invest $380k into East Africa’s creative sector
This week the HEVA Fund announced a call for applications for their latest investment into the region’s creative sector.
Fri, 04 Sep 2020 17:23:52 GMT
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AI Generated Summary
- Strategic Investment: HEVA Fund, in collaboration with the European Commission and the French Agency of Development, is set to inject $380,000 into creative businesses in East Africa, signaling a significant commitment to supporting the region's creative sector.
- Challenges Amidst COVID-19: The COVID-19 pandemic has deeply impacted creative practitioners, leading to income loss, disruptions in project implementations, and logistical challenges. Despite these hurdles, there is optimism as businesses explore innovative solutions.
- Expanding Opportunities: The launch of the East Africa Creative Business Fund extends support to creatives beyond Kenya, welcoming applications from Rwanda, Tanzania, Uganda, and Ethiopia. This initiative opens doors for diverse cultural expressions to thrive and grow.
The HEVA Fund has made a significant announcement this week, calling for applications for their latest investments into the region's creative sector. In a strategic partnership with the European Commission and the French Agency of Development, the organization is set to inject an additional $380,000 USD into creative businesses in Kenya, Uganda, Rwanda, Tanzania, and Ethiopia. This move signifies a strong commitment to supporting and nurturing the creative industry in East Africa. Dr. Njoki Ngumi, the Programs and Strategy Lead at Heva Fund, shed light on the profound effects of the COVID-19 pandemic on the sector, emphasizing the deep and systemic challenges faced by creative practitioners in the region. Despite the setbacks brought about by the pandemic, there is a sense of cautious optimism as businesses explore innovative ways to pivot and adapt to the new normal. The launch of the East Africa Creative Business Fund marks a significant milestone, opening doors for creatives beyond Kenya and providing a platform for diverse artistic expressions to flourish. This initiative not only underscores the importance of the creative economy in fueling economic recovery but also highlights the need for governments to prioritize and support the creative industry for sustained growth and development.