KANSAS CITY, Mo., March 4, 2025 -- KCB Bank Tanzania has signed a USD 15 million loan agreement (equivalent to Tsh39.48 billion) with WaterEquity to support water accessibility across Tanzania, particularly in underserved rural areas.
The funding will be directed toward key water projects under the Rural Water Supply and Sanitation Agency (RUWASA) and Dar es Salaam Water Supply and Sanitation Authority (DAWASA), aimed at improving water availability and sanitation infrastructure. This initiative aligns with KCB Bank's commitment to sustainable development and supporting the well-being of communities across Tanzania.
These projects fall under key sub-sectors, including manufacturing of materials and equipment, building and construction, and trade and supply.
Speaking at the signing ceremony in Dar es Salaam on behalf of Cosmas Kimario, KCB Group Regional Businesses Director and Managing Director, Pascal Machango (Head of Treasury), emphasized the importance of the relationship in supporting both the bank's sustainability agenda and country's development goals:
"We are pleased to officially announce this collaboration between KCB Bank and WaterEquity in the spirit of improving community well-being. This relationship 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 many parts of Tanzania, particularly in rural areas. Through this strategic alliance, KCB Bank aims to support the country's water sector, contributing to increased access to clean and reliable water sources to more communities.
"WaterEquity is pleased to support KCB Bank Tanzania in expanding access to safe water and sanitation. This investment aligns with our mission by addressing the interconnected challenges of water access, gender, climate, and economic development in underserved communities across Tanzania," said Njeri Kirumbi, Head of Africa for Financial Institutions, WaterEquity.
In 2024, KCB Bank disbursed more than USD 28M in loans towards water and sanitation. This investment underscores KCB Bank's dedication to supporting Tanzania's development agenda by fostering sustainable solutions that address fundamental community needs.
KCB Bank is committed to its sustainability agenda, currently implementing 14 Sustainable Development Goals (SDGs) and integrating the Environmental, Social and Governance (ESG) Framework into its business practices. This relationship aims to enhance the bank's ability for a more impactful business inspired by its brand purpose of For People, For Better.
About WaterEquity
WaterEquity is an asset manager dedicated to mobilizing private investment into the water and sanitation sector in emerging and frontier markets. We invest in financial institutions, enterprises, and infrastructure in emerging and frontier markets that help deliver safe water and sanitation solutions to low-income communities, while seeking financial returns for investors. Since 2016, WaterEquity has raised more than $460 million in committed investment capital and has improved access to safe water or sanitation for more than 6.6 million people.
Founded by entrepreneurs Gary White and Matt Damon of Water.org, the success of WaterEquity is built on decades of collective experience investing in water and sanitation in emerging markets.
Learn more at WaterEquity.com
Disclaimer: All investment has a risk of loss. There can be no assurance of any level of social or environmental impact. There is always the risk that impact investments will have a net negative impact, despite best efforts to achieve net positive impact.
About KCB Tanzania Limited
KCB Bank is a subsidiary of KCB Group that was established in 1997 providing a wide range of commercial services to individuals, SMEs, Islamic banking and corporate clients. KCB Group, is the largest in East Africa, operating in seven countries including Tanzania, Kenya, Uganda, Rwanda, Burundi, South Sudan, Congo DRC and a representative office in Ethiopia.
With a strong presence in Tanzania, KCB Bank operates through 18 branches strategically located in Dar es Salaam, Morogoro, Mwanza, Arusha, Kilimanjaro, Shinyanga, Geita, and Songwe, ensuring service accessibility and convenience to customers.
Services provided by KCB Bank includes account opening, loans, insurance, and digital financial solutions, designed to meet diverse customer needs.
By December 2024, KCB Bank Tanzania recorded Tsh1.5 trillion in assets, underscoring our steady growth and unwavering commitment to investing in the country.
Contact Information:
Faizneen Bharmal,
Senior Associate, Marketing
390997@email4pr.com
+1 (816) 877-8400
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