HEVA’s East Africa Creative Business Fund (EACBF) is a patient loan facility being made available from 2021 onwards to successful applicants through debt investments of between USD 20,000 and USD 50,000, over a maximum period of 4 years.
The fund, which is a timely response to the loss of resources and opportunities for creatives during the COVID-19 pandemic, has announced a receipt of 76 eligible applications out of a total of 430 applications from Kenya (248), Uganda (59), Ethiopia (33), Tanzania (30) and Rwanda (60). All the aforementioned applications were submitted between September and October 2020, when the call for EACBF was officially opened.
76 of all the 430 applications are eligible for the fund, having met its specific requirements: a business’s annual revenue of no less than USD 20,000, and a minimum of one employee (part time or full time). All the eligible applicants are registered and operational in the East African countries as follows: Kenya (40), Ethiopia (4), Uganda (11), Tanzania (7) and Rwanda (14). Out of these firms, 28 are female-owned or run, while 43 are owned/run by men.
HEVA fund announces progress on East Africa creative business fund
Remittance flows to Kenya defy the odds during the COVID-19 pandemic
Despite the impact of the COVID-19 pandemic on wages and employment across the world, the Kenyan diaspora community continues to send money back home to their families.
The Central Bank of Kenya recently released data showing that remittance flows to the country increased by 10 per cent, from USD 2.796 billion in 2019 to USD 3.095 billion in 2020, accounting for three per cent of the country’s Gross Domestic Product (GDP). This is contrary to projections made in 2020 that predicted that remittances in low and middle income countries were likely to decrease as a result of the pandemic.
The increase in remittance flows to Kenya is a result of financial innovations that have opened up more convenient channels, such as using mobile phones for transactions, which make it easy for families to send and receive money despite the wide spread restriction of movement and lockdowns.
Huawei ICT competition national round launches in Ethiopia
The 6th Global Huawei ICT Competition comes to Ethiopia, and expects to witness the brightest brains and most innovative ideas among 1000 student participants. The winners of the national final will have the opportunity to represent their country in Global Final 2022 in China, as one team.
The competition has both practical and innovative tracks, where the first one request a comprehensive theoretical understanding and hands-on practical ability, while the later focuses on innovative technology application and design capabilities, as well as business thinking. Winner selection is through pure machine scoring and jury scoring prospectively for different tracks.
The winner of the National Round will be awarded Huawei electronics including mobile phones, tablets and sports wearables. The top winner from each track will team up and represent Ethiopia at the regional final and compete to win the ticket to global final held in China.
Huawei Ethiopia Regional Vice President Ji Hui on the launching event said “As Ethiopia is at the dawn of digital revolution, ICT talent becomes the key assets of the economy. Huawei will tightly align with Digital Ethiopia 2025 strategy and contribute to talent cultivation. The ICT competition is the manifestation of it.”
ECA engages media as partners in data production and sharing
The African Centre for Statistics (ACS) at the Economic Commission for Africa (ECA) hosted a webinar on the need to improve relationship between producers of statistics and the media in order to enhance end user experience.
“Data generated by producers of official statistics are critical for planning, decision making, monitoring and evaluation of public policies. The media, therefore, is an essential vehicle to ensure that such data is transmitted and shared with all stakeholders,” said ACS Director, Oliver Chinganya.
The session was organised in partnership with AFRISTAT, INSEE, ONS-UK and PARIS2, under the theme “Media Engagement in Official Statistics: How and Why?”
Kenyan journalist, Wanjohi Kabukuru, deplored the fact that some National Statistical Offices (NSOs) make it difficult and sometimes impossible for journalists to access official statistics.
Kabukuru urged NSOs to aspire to be primary sources of data rather than deny access for journalists who end up getting the same information from secondary sources – usually international organisations – to which NSOs furnish data.
“When you give data you control the narrative,” he added.
