Hope for creative industry as new sources of financing are sought
The cast of 'Tinga Tinga' The Musical at the Kenya National Theatre. In East Africa, many small, medium and creative enterprises are considered risky, attracting high interest rates. PHOTO | COURTESY
One of the biggest hindrances to the growth of the creative industry in East Africa is the lack of finance, because commercial banks consider it as too risky to lend to.
According to the Global Impact Investing Network 2015 Report, commercial banks in East Africa have high collateral requirements, often exceeding 100 per cent, which many early-stage enterprises are unable to meet.
