HEVA is launching the East Africa Creative Business Fund to invest in creative businesses in the five East African countries: Kenya, Uganda, Rwanda, Tanzania, and Ethiopia. This facility is designed to provide financing for businesses to: restructure interrupted supply chains; increase production capacity; diversify offerings; increase market share; increase integration in local and regional value-chains; support the transition to low-touch and digital capabilities, and take advantage of new opportunities.
Business support remains a key component of our fund strategy. As such, East Africa Creative Business Fund beneficiaries will also be the recipients of ongoing strategic engagements to synergise with their direct cash-flow investment. This will include: relevant financial modelling, legal, tax, human resource, accounting, and cash flow management support, as well as access to training and international platforms for market access.
A 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. A business must be able to demonstrate a resident team (permanent or part-time). The business must have a minimum of one (1) permanent employee.
Actions must take place in Kenya, Uganda, Rwanda, Tanzania, and Ethiopia.
This fund is a loan facility featuring targeted debt investments to be deployed for a maximum of four (4) years in each business which makes a successful application. Businesses can apply for a minimum of USD 20,000 and a maximum of USD 50,000.
Interested entities should submit their proposals no later than 19 October 2020.