By Bisola Adeyemo
Ibrahim Mayaki, CEO of African Union Development Agency (AUDA-NEPAD) says that the continent only spends between 10 and 19 billion dollars annually to address water challenges.
Mayaki stated this in Nairobi on Wednesday, adding that the continent requires spending 3.4 trillion shillings (30 billion U.S. dollars) annually in water sector infrastructure to meet its water needs.
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“We need to accelerate investments in the water sector given the critical role it plays in Africa’s development,” Mayaki said during the launch of the Continental Africa Water Investment Programme AIP-PIDA water investment scorecard.
The scorecard is a tool that will enable the continent to track and mobilize funds into the water sector.
Mayaki added that in order to address the water deficit about 20 percent of the African Union’s Programme for Infrastructure Development in Africa (PIDA) projects will be in the water sector.
While urging the continent, Mayaki said the continent should rely on finances from both public and private sectors to bridge the growing funding gap in the water sector.
He also noted that increased financing in the water sector should translate into people of Africa having access to safe and clean water, while stating that lack of water security will undermine the continent’s poverty eradication efforts.
