NCBA Bank has partnered with Kenyan music producer Motif Di Don to launch ELEV8 LIVE Studio powered by NCBA, a platform aimed at discovering, mentoring, and scaling new music talent across the country.
The move not only marks NCBA’s formal entry into the creative sector but also aligns with the bank’s broader sustainability agenda, which includes empowering youth and supporting non-traditional sectors of economic growth.
Kenya’s creative economy contributes approximately 5.3 percent of the nation’s GDP, translating to an estimated Sh110 billion.
With more than 300,000 creative entrepreneurs operating within the country, the sector holds immense potential.
Despite this potential, creatives often face numerous challenges, among them limited access to finance, underdeveloped industry structures, and systemic neglect from policymakers.
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According to the Music Copyright Society of Kenya (MCSK), only 5 percent of Kenyan artists earn consistent royalties, highlighting a crisis in the sector.
Additionally, many creatives lack formal business registration, making it difficult for banks to assess legitimacy or establish cash flow records for lending purposes.
Societal perceptions continue to undervalue creative professions, leading to biased assessments of character in financial evaluations. And without traditional forms of collateral like land or vehicles, most creatives find themselves locked out of conventional financing systems.
Through ELEV8 LIVE Studio, NCBA aims to address these challenges by providing both financial and non-financial support to upcoming artists, including mentorship and skills-building, and tailored financial products specifically designed for the creative sector.
Beyond music, NCBA is also engaged in multiple fronts of the creative economy, including supporting a Stand-Up Comedy Collective, art show, and golf monetization for both professionals and amateurs
