DBSA invests in Africa’s water infrastructure

The Development Bank of Southern Africa (DBSA) is at the forefront of a significant initiative aiming to secure $30 billion annually by 2030 to address Africa's water needs. On the sidelines of the UN General Assembly, the DBSA participated in the Launch of a High-Level Panel Campaign on Water Investments for Africa. Chuene Ramphele, Group Executive for Infrastructure Delivery at DBSA, shed light on the objectives and priorities of this ambitious campaign. At the core of the initiative is a strategic focus on seven key areas to raise the targeted amount. Ramphele emphasized the importance of domestic resource mobilization, including government commitments from their fiscals and exploring mineral resources taxes and institutional investors. A major portion of the $30 billion is expected to be generated through these channels, with approximately $17.5 billion earmarked for this purpose. In addition to domestic sources, philanthropic contributions for Africa, Overseas Development Assistance (ODA), and multilateral climate funds will play a vital role in funding the initiative. Ramphele highlighted the significance of leveraging these resources to address critical issues like climate change and develop resilient infrastructure. The campaign aims to demonstrate the commitment of various stakeholders towards sustainable water investments in Africa. Furthermore, Ramphele emphasized the importance of encouraging private sector participation in water investments across the continent. Recognizing the financial constraints faced by many African countries, the initiative seeks to create a conducive environment for private sector engagement and investment in water infrastructure projects. Regarding the allocation of funds, Ramphele stressed the significance of prioritizing water resources management and distribution infrastructure. Enhancing the capacity to transport and distribute water within regions is pivotal for stimulating economies and benefitting local communities. The focus on developing river basins, such as the Zambezi, underscores the campaign's commitment to harnessing water resources effectively and ensuring equitable distribution. The campaign has identified three key focus areas, known as the 'Mind the Gap' campaign. Addressing the governance gap is crucial for attracting and converting investments into tangible infrastructure projects. DBSA aims to play a pivotal role in investing and implementing projects to deliver water access to communities. Capacitating decision-making processes through data collection and analysis is another key aspect of the initiative, emphasizing the importance of informed and efficient project management. In conclusion, Ramphele reiterated the necessity of a conducive environment for water investments, emphasizing the need for appropriate financial instruments and supportive policies. The DBSA's initiative underscores a collective commitment to enhancing water infrastructure in Africa and ensuring sustainable development for the continent's future.