Metito Utilities Limited (MUL), a global investor and operator of water, wastewater, and alternative energy management solutions and British International Investment (BII) has announced the launch of their new company, Africa Water Infrastructure Development (AWID), to develop climate-smart water projects at scale and to increase water security across Africa.
The official launch of AWID took place in Cairo, and was hosted by the British Ambassador, Gareth Bayley; MD and head of Africa for BII, Chris Chijiutomi and Metito MD, Rami Ghandour. The launch was attended by key business leaders in Egypt and from across Africa as well as leading government officials.
Water insecurity is a critical development challenge in Africa and climate change is expected to reduce water availability and increase the extent of water scarcity, exacerbating existing water-related vulnerabilities caused by other socio-economic factors.
The significant gap in storage, supply, and access to clean water and sanitation services urgently called for effective and efficient water management infrastructure.
The new platform, AWID, will finance water and wastewater management treatment plants as well as develop and construct world-class 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.
UK minister for Development and Africa, Andrew Mitchell said: “the climate emergency has made water insecurity a major development challenge in Africa. BII’s partnership with Metito to launch the AWID platform, signals the UK’s continuing commitment to increase development and climate partnerships and financing to help the most vulnerable people and countries impacted by climate change.”
Speaking on the new partnership, managing director of Metito, Rami Ghandour 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.”
MD and head of Africa at BII, Chris Chijiutomi added that, “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.”
Global director for Infrastructure at the IFC, Morgan Landy stated that, “investing in water infrastructure is a strategic priority for IFC in Africa and we are working with the private sector to close the funding gap in this critical sector. As a long-standing Metito shareholder, IFC is proud to witness the launch of this new Africa-focused platform that will invest in climate-smart water projects, further promoting economic growth and building a more water-secure Africa.”
AWID will help to contribute to the UN’s Sustainable Goals (SDG 3) on Good Health and Well-being, (SDG5) on Gender Equality, (SDG 6) on Clean Water and Sanitation and (SG13) on Climate Action.
