KCB, WaterEquity team up to boost water accessibility
The KCB Tanzania Head of Treasury, Pascal Machango second right and Head of Africa for Financial Institutions, Njeri Kirumbi, WaterEquity sign an MoU for the partnership between the two entities in enhancing accessibility of clean water and sanitation in Tanzania. The partnership worth $15 million will be directed to projects under water sector. On the right is the KCB Bank’s Company Secretary and Head of Legal, Frida Shirima and Gabriel Enonga, Head of Africa for Private Equity and Infrastructure. PHOTO | COURTESY
What you need to know:
- The move aims at improving water availability and sanitation infrastructure.
Dar es Salaam. KCB Bank Tanzania has signed a $15 million partnership (equivalent to Sh39.48 billion) agreement with asset manager WaterEquity to support water accessibility across Tanzania, particularly in underserved rural areas.
The funding will be directed towards key water projects primarily under the Rural Water Supply and Sanitation Agency (Ruwasa) and Dar es Salaam Water Supply and Sanitation Authority (Dawasa).
The move aims at improving water availability and sanitation infrastructure.
According to the memorandum of understanding (MoU) signatories, the initiative aligns with KCB Bank’s commitment to sustainable development and supporting the well-being of communities across Tanzania.
The signing was done yesterday during a ceremony, with the two parties saying that the projects fell under key sub-sectors, including manufacturing of materials and equipment, building and construction, and trade and supply.
In his remarks, KCB Bank Tanzania head of treasury, Mr Pascal Machango, emphasised the importance of the relationship in supporting both the bank’s sustainability agenda and the country’s development goals.
“We are pleased to officially announce the collaboration between KCB Bank and WaterEquity in the spirit of improving community well-being,” he said.
This relationship will not only strengthen our portfolio but also ensure that funds are directed towards impactful projects that will make a lasting difference in people’s lives,” he said.
Water accessibility remains a critical challenge in many parts of Tanzania, particularly in rural areas.
Through the alliance, KCB Bank aims to support the country’s water sector, contributing to increased access to clean and reliable water sources for more communities.
In 2024, KCB Bank disbursed more than $28 million (Sh72.8 billion) in loans towards water and sanitation.
The investment underscores KCB Bank’s dedication to supporting Tanzania’s development agenda by fostering sustainable solutions that address fundamental community needs.
KCB Bank is committed to its sustainability agenda, currently implementing 14 Sustainable Development Goals (SDGs) and integrating the Environmental, Social and Governance (ESG) Framework into its business practices.
Thus, they believe the relationship will enhance the bank’s ability for a more impactful business.
“WaterEquity is pleased to support KCB Bank Tanzania in expanding access to safe water and sanitation,” said head of Africa for financial institutions, WaterEquity, Ms Njeri Kirumbi.
“This investment aligns with our mission to address the interconnected challenges of water access, gender, climate, and economic development in underserved communities across Tanzania,” she said.
