AFD to fund fashion, music industries

Monday, June 25, 2018 — updated on December 26, 2020 - 1 min read

French Development Agency (AFD) Director General Rémy Rioux, Treasury CS Henry Rotich (back left), and KenGen Managing Director Rebecca Miano (2R) during the signing of a series of credit facility agreements between AFD, the Kenyan government and KenGen. PHOTO | DIANA NGILA | NMG

By JAMES KARIUKI

French Development Agency (AFD) has pledged a Sh90 million credit and technical assistance for creative cultural artists and fashion designers.

Speaking at the signing of a partnership with creative economy developer Heva Fund, AFD chief executive Rémy Rioux said fashion, music, gaming and digital content producers would receive financial support and business training through the fund.

“This will generate new jobs and enhance vibrancy in the creative arena whose potential remains underestimated. Many potential entrepreneurs in Africa are struggling to access capital, markets and business training,” he said.

Heva managing partner George Gachara said there was a lot of talent that could be tapped.

“This will build Kenya’s stature as an arts and entertainment tourism destination,” he said, adding that the four-year strategy was to inject Sh500 million into development of live music and events, fashion/apparel manufacturing retail, film, television and audiovisual content as well as gaming, e-sports and entertainment.