KCB Bank and WaterEquity Join Forces with $15 Million Loan for Tanzanian Water Projects
In a significant development aimed at enhancing water accessibility in Tanzania, KCB Bank Tanzania has entered into a partnership with WaterEquity, signing a loan agreement worth $15 million (approximately Tsh39.48 billion). This strategic move is geared towards improving water access in threatened rural areas where such basic necessities remain a privilege rather than a guarantee.
The newly secured funding will be primarily directed toward crucial initiatives under the Rural Water Supply and Sanitation Agency (RUWASA) and the Dar es Salaam Water Supply and Sanitation Authority (DAWASA). These agencies aim to bolster necessary water and sanitation projects, enhancing both water availability and sanitation infrastructure throughout the region.
Recognizing that access to potable water remains a critical challenge in many parts of Tanzania, KCB Bank is making concerted efforts to alleviate these issues through this partnership. During the signing ceremony held in Dar es Salaam, KCB Group's Head of Treasury, Pascal Machango, highlighted the mutual benefits of the collaboration. He remarked, "We are pleased to announce this alliance with WaterEquity, which primarily focuses on improving community well-being. This partnership will not only diversify our portfolio but will also channel funds towards impactful projects that positively transform the lives of many individuals.
Additionally, KCB Bank is working to integrate and promote sustainable development within its operational framework, engaging with numerous sub-sectors necessary for the projects, including the manufacturing of water supply materials, construction, and trade facilities essential for successful project implementation.
Njeri Kirumbi, WaterEquity's Head of Africa for Financial Institutions, expressed the organization’s commitment to expanding access to safe water and sanitation in underserved communities across Tanzania. She stated, "This investment aligns with our mission to address the interconnected challenges of water access, gender, climate, and economic development. We are thrilled to join KCB Bank on this crucial journey that underscores our commitment to community empowerment.
Reflecting on its previous efforts, KCB Bank made significant contributions to the water and sanitation sector, disbursing over $28 million in loans in the past year alone. This underscores their steadfast dedication to fulfilling Tanzania’s developmental aspirations by promoting effective and sustainable solutions to meet fundamental community needs.
Furthermore, KCB Bank actively incorporates Sustainable Development Goals (SDGs) into its business practices, committing to provide meaningful contributions toward Tanzania’s development agenda. By implementing the Environmental, Social, and Governance (ESG) framework in their operations, KCB aims to elevate its sustainability agenda and enhance its reputation as a forward-thinking financial institution genuinely invested in the welfare of Tanzanian communities.
WaterEquity has been at the forefront of driving impactful change, focusing on private investments that cater to water and sanitation solutions in emerging and frontier markets. Since its inception, WaterEquity has successfully mobilized over $460 million in commitments, granting access to safe water and sanitation to 6.6 million individuals. Founded by entrepreneurs Gary White and Matt Damon of Water.org, WaterEquity leverages years of collective experience in the water investment landscape, seeking both social impact and financial returns for its investors.
KCB Bank, established in 1997, functions under KCB Group, which is the largest banking institution in East Africa, spanning across multiple countries, including Tanzania, Kenya, Uganda, and more. KCB Bank continues to expand its service presence in Tanzania, with 18 strategically located branches ensuring accessibility and convenience for its customers. In 2024, the bank reported assets totaling Tsh1.5 trillion, exemplifying its steady growth and commitment to fostering development within the country.
Contact information remains available for stakeholders desiring further engagement or collaboration opportunities. Both KCB Bank and WaterEquity express their optimism in the future of Tanzania’s water sector and remain committed to addressing this fundamental human right of water access effectively.
The newly secured funding will be primarily directed toward crucial initiatives under the Rural Water Supply and Sanitation Agency (RUWASA) and the Dar es Salaam Water Supply and Sanitation Authority (DAWASA). These agencies aim to bolster necessary water and sanitation projects, enhancing both water availability and sanitation infrastructure throughout the region.
Recognizing that access to potable water remains a critical challenge in many parts of Tanzania, KCB Bank is making concerted efforts to alleviate these issues through this partnership. During the signing ceremony held in Dar es Salaam, KCB Group's Head of Treasury, Pascal Machango, highlighted the mutual benefits of the collaboration. He remarked, "We are pleased to announce this alliance with WaterEquity, which primarily focuses on improving community well-being. This partnership will not only diversify our portfolio but will also channel funds towards impactful projects that positively transform the lives of many individuals.
Additionally, KCB Bank is working to integrate and promote sustainable development within its operational framework, engaging with numerous sub-sectors necessary for the projects, including the manufacturing of water supply materials, construction, and trade facilities essential for successful project implementation.
Njeri Kirumbi, WaterEquity's Head of Africa for Financial Institutions, expressed the organization’s commitment to expanding access to safe water and sanitation in underserved communities across Tanzania. She stated, "This investment aligns with our mission to address the interconnected challenges of water access, gender, climate, and economic development. We are thrilled to join KCB Bank on this crucial journey that underscores our commitment to community empowerment.
Reflecting on its previous efforts, KCB Bank made significant contributions to the water and sanitation sector, disbursing over $28 million in loans in the past year alone. This underscores their steadfast dedication to fulfilling Tanzania’s developmental aspirations by promoting effective and sustainable solutions to meet fundamental community needs.
Furthermore, KCB Bank actively incorporates Sustainable Development Goals (SDGs) into its business practices, committing to provide meaningful contributions toward Tanzania’s development agenda. By implementing the Environmental, Social, and Governance (ESG) framework in their operations, KCB aims to elevate its sustainability agenda and enhance its reputation as a forward-thinking financial institution genuinely invested in the welfare of Tanzanian communities.
WaterEquity has been at the forefront of driving impactful change, focusing on private investments that cater to water and sanitation solutions in emerging and frontier markets. Since its inception, WaterEquity has successfully mobilized over $460 million in commitments, granting access to safe water and sanitation to 6.6 million individuals. Founded by entrepreneurs Gary White and Matt Damon of Water.org, WaterEquity leverages years of collective experience in the water investment landscape, seeking both social impact and financial returns for its investors.
KCB Bank, established in 1997, functions under KCB Group, which is the largest banking institution in East Africa, spanning across multiple countries, including Tanzania, Kenya, Uganda, and more. KCB Bank continues to expand its service presence in Tanzania, with 18 strategically located branches ensuring accessibility and convenience for its customers. In 2024, the bank reported assets totaling Tsh1.5 trillion, exemplifying its steady growth and commitment to fostering development within the country.
Contact information remains available for stakeholders desiring further engagement or collaboration opportunities. Both KCB Bank and WaterEquity express their optimism in the future of Tanzania’s water sector and remain committed to addressing this fundamental human right of water access effectively.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.