The Co-operative Bank of Kenya has won the Leadership in Water Infrastructure and Finance Award at the Africa WaterCredits Forum, recognising its water, sanitation and hygeine financing.
Over the past three years, the bank has disbursed KSh4.39bn (US$33.83m, £25.3m) in water, sanitation and hygiene (Wash) financing.
This beats the bank’s KSh3bn target, set under a partnership launched in 2023 with Water.org, by 46%. Projects have extended water and sanitation access for more than 110,000 people in communities across urban, peri-urban and rural areas.
Judges recognised the effort during the forum, held in Nairobi on 16 October, and noted the bank’s Co-op A Maji product, designed to provide financing for water supply, sanitation and hygiene infrastructure.
Access to finance is a critical barrier to the implementation of important water projects, with providers often struggling to obtain funding that matches their revenue pattern and investment needs.
The bank designed Co-op A Maji to address this with tailored banking solutions, which can help providers plan for improvements rather than relying on their own limited resources.
This supports the development of infrastructure such as water tanks, solar pumps, water connections, exhausters, bowsers and smart meters for households, businesses and water service providers.
“Access to reliable water and sanitation remains one of Kenya’s most pressing development priorities,” said the bank’s CEO Gideon Muriuki, ”and innovative financing is essential to turn infrastructure ambitions into delivered services.
“Coop A Majo reflects the bank’s longstanding focus on sectors that drive inclusive growth and improve livelihoods at the community level.”
The Africa WaterCredits Forum brings together financial institutions, water utilities, development partners and other stakeholders to encourage commercial investment in water and sanitation infrastructure across Africa.
