KCB Bank Tanzania has entered into a $15 million (Tsh39.48 billion) loan agreement with WaterEquity, a global asset manager focused on water and sanitation solutions.
The funding will support critical water projects in Tanzania, particularly in underserved rural areas, through collaborations with the Rural Water Supply and Sanitation Agency (RUWASA) and the Dar es Salaam Water Supply and Sanitation Authority (DAWASA).
The initiative aims to enhance water availability and sanitation infrastructure, addressing a pressing need in the country.
The agreement was formalized at a signing ceremony in Dar es Salaam, attended by key representatives from both organizations.
Attendees included Gabriel Etonga, Head of Africa for Private Equity and Infrastructure at WaterEquity; Njeri Kirumbi, Head of Africa for Financial Institutions at WaterEquity; Pascal Machango, Head of Treasury at KCB Bank; and Frida Shirima, Company Secretary and Head of Legal at KCB Bank.
The funding will target key sub-sectors such as manufacturing of materials and equipment, building and construction, and trade and supply, ensuring a comprehensive approach to improving water access.
This partnership underscores KCB Bank’s commitment to sustainable development and aligns with its broader sustainability agenda, which includes implementing 14 Sustainable Development Goals (SDGs) and integrating Environmental, Social, and Governance (ESG) principles into its operations.
Speaking on behalf of Cosmas Kimario, KCB Group Regional Businesses Director and Managing Director, Pascal Machango highlighted the significance of the collaboration.
“We are pleased to officially announce this partnership with WaterEquity, which reflects our shared commitment to improving community well-being. This initiative 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.”
Water accessibility remains a critical challenge in Tanzania, particularly in rural areas. Through this partnership, KCB Bank aims to contribute to the country’s water sector, providing more communities with access to clean and reliable water sources.
Njeri Kirumbi of WaterEquity emphasized the alignment of the investment with their mission: “WaterEquity is proud to support KCB Bank Tanzania in expanding access to safe water and sanitation. This investment addresses interconnected challenges of water access, gender, climate, and economic development in underserved communities across Tanzania.”
In 2024, KCB Bank disbursed over $28 million in loans for water and sanitation projects, reflecting its dedication to supporting Tanzania’s development agenda. This latest agreement further solidifies the bank’s role in fostering sustainable solutions that address fundamental community needs.
WaterEquity is an asset manager focused on mobilizing private investment into the water and sanitation sector in emerging and frontier markets. Founded by Gary White and Matt Damon of Water.org, WaterEquity has raised over $460 million in committed investment capital since 2016, improving access to safe water and sanitation for more than 6.6 million people.
The organization leverages decades of collective experience to deliver impactful solutions in water and sanitation.
This partnership between KCB Bank Tanzania and WaterEquity exemplifies a shared commitment to driving sustainable development and improving the quality of life for Tanzanian communities.
