WaterEquity grants US $12M for water and sanitation projects in Africa

WaterEquity has issued a loan of US $12M to Bayport Management to finance clean water and sanitation clean water and sanitation projects in seven countries in Africa.

The projects are set to be implemented in low-income populations in Botswana, Zambia, Mozambique, Ghana, Tanzania and Uganda. In these countries, located in Southern, East and West Africa, water scarcity is a major concern. This situation is exacerbated by climate change, which is expected to worsen further according to the 6th report of the Intergovernmental Panel on Climate Change (IPCC).

READ:Togo receives US $19M to improve water supply in four towns

Scope of work

Mauritius-based Bayport Management will disburse the funds to the government officials in these seven countries through its subsidiaries. Works under the clean water and sanitation clean water and sanitation projects involve laying of new pipes to connect individuals to the various national water networks as well as the construction of boreholes.  The five-year loans will also be used to build toilets with septic tanks to reduce open defecation.

“In total, the projects in Botswana, Zambia, Mozambique, Ghana, Tanzania and Uganda are expected to benefit 200,000 people. Our payroll credit model serves more than 500,000 clients in the seven African countries and two other Latin American countries,” says Bayport Management.