BII to back water projects in Africa
Metito Utilities Limited, a global investor and operator of water, wastewater and alternative energy management solutions, and British International Investment (BII), the UK’s development finance institution and impact investor, announced the launch of their new company Africa Water Infrastructure Development (AWID), a first-of-its-kind platform to develop climate-smart water projects at scale and to increase water security across Africa.
AWID will finance water and wastewater management treatment plants as well as develop and construct facilities that will help to increase access to sustainable, safe and reliable water with a clear focus on countries that are most vulnerable to the climate crisis.
AWID aims to demonstrate a viable commercial model for water infrastructure and provision in Africa, helping to mobilise long-term investment into the sector. Its investments will integrate green technologies and alternative energy components, which will help to reduce the environmental footprint of water infrastructure projects.
An operational bulk surface water treatment plant in Kigali-Rwanda forms the first asset under the new platform. The 40,000 cubic metres per day plant is currently providing over 25% of the city’s potable water supply, meeting the needs of 500,000 domestic, commercial, and industrial consumers. The Kigali water treatment plant is a public-private partnership (PPP), which is the first of its type under this business model in sub-Saharan Africa (outside of South Africa).
Commenting on the new partnership, Rami Ghandour, managing director of Metito said, “As Africa undergoes rapid urbanisation, there is a pressing demand for water infrastructure. Such projects are particularly capital intensive. An increasing funding gap requires mobilising sustainable investments into the sector. Our partnership with BII will leverage our high-value engineering and use of innovative technologies with access to unrivalled financial resources and support.”
Chris Chijiutomi, MD and head of Africa at BII added, “Our partnership with Metito is part of BII’s strategy to improve development outcomes by investing in water, sanitation and hygiene. AWID will demonstrate to other investors, governments and operators that private investment can deliver operationally efficient and high-impact water infrastructure projects at scale, that have the potential to drive transformative and sustainable impact in Africa.”