Through a new loan, Bayport Management will fund water and sanitation for low-income populations in Botswana, Zambia, Mozambique, Ghana, Tanzania, and Uganda. WaterEquity, a facility intended to support organizations that fund water and sanitation projects all over the world, is providing $12 million in financing.
The Mauritius-based Bayport Management would provide deductible loans to government officials. This will happen in the six states for housing or home improvement purposes through improved water and sanitation services. The deductibles will be through its subsidiaries.
The financing from WaterEquity will make it possible to construct boreholes. It will also allow for the laying of new pipes to connect people to the various national water networks. To reduce open defecation, toilets with septic tanks will also be constructed using five-year loans.
The expected impacts of water and sanitation for low-income populations in South and East Africa
200,000 people are anticipated to gain something from the programs in Botswana, Zambia, Mozambique, Ghana, Tanzania, and Uganda combined.
Their payroll credit strategy serves more than 500,000 customers in seven African countries and two additional Latin American countries. This is according to Bayport Management, which was established in 2001.
The scarcity of water is a major concern in these countries. They are found in Southern, East, and West Africa. The sixth report of the Intergovernmental Panel on Climate Change (IPCC) expects that this situation will only get worse as a result of climate change.
According to WaterEquity Chief Investment Officer John Moyer, the company aims to address the global water and sanitation challenges. This could be through partnerships with local financial service providers like Bayport Management Ltd.
They also believe one of the best ways to increase access to water and sanitation is to harness the power of private capital.
The investment will reach homes in some of the most neglected water markets in the world in partnership with their trusted partners at BML.