Dar es Salaam – In a significant move to address water scarcity in Tanzania, KCB Bank Tanzania signed a $15 million (about Sh39.5 billion) partnership agreement with WaterEquity on Thursday, marking a pivotal step in enhancing water accessibility across Tanzania, particularly in underserved rural areas.
Signed in the city, this partnership reflects a growing recognition of the urgent need for improved water and sanitation infrastructure nationwide, particularly in long-neglected regions.
The collaboration is directed toward funding essential water projects under the auspices of the Rural Water Supply and Sanitation Agency (RUWASA) and the Dar es Salaam Water Supply and Sanitation Authority (DAWASA).
These initiatives are not merely financial transactions; they are lifelines for communities facing dire water shortages and inadequate sanitation facilities.
The partnership emphasizes a multifaceted approach, with investments aimed at enhancing the manufacturing of materials and equipment, as well as supporting the construction and supply chains critical to developing water infrastructure.
Mr Pascal Machango, the KCB Bank’s Head of Treasury, articulated the partnership’s significance during the signing ceremony in Dar es Salaam.
He highlighted that the initiative aligns with KCB Bank’s sustainability agenda and Tanzania’s broader development goals.
“This relationship will not only strengthen our portfolio but also ensure that funds are directed toward impactful projects that will make a lasting difference in people’s lives,” he stated.
His words resonate deeply with the reality on the ground—where access to clean water is a pressing challenge that hinders community health and economic progress.
Water accessibility is not just a convenience; it is a fundamental human right and a cornerstone of public health.
In many rural areas of Tanzania, residents often face long distances to fetch water, leading to time lost that could be spent on education or economic activities.
The KCB-WaterEquity partnership aims to alleviate these burdens by providing communities with clean and reliable water sources.
This initiative promises not only to improve health outcomes but also to empower communities economically and socially.
The investment of over $28 million (about Sh69.4 billion) in water and sanitation loans by KCB Bank in 2024 further underscores the bank’s commitment to sustainable development.
By fostering innovative solutions to meet the fundamental needs of communities, KCB Bank is taking an active role in Tanzania’s development agenda.
The bank’s strategy is not limited to financial investment; it encompasses a comprehensive approach integrating Environmental, Social, and Governance (ESG) frameworks into its business practices.
This commitment to the Sustainable Development Goals (SDGs) demonstrates a forward-thinking approach that seeks to create long-term impact.
WaterEquity’s involvement is equally crucial.
Ms Njeri Kirumbi, the Head of Africa for Financial Institutions at WaterEquity, expressed the organization’s enthusiasm for the partnership, emphasizing the interconnected challenges of water access, gender equity, climate resilience, and economic development.
This holistic view is essential in addressing the root causes of water scarcity and ensuring that the solutions implemented are sustainable and equitable.
