Gatete calls for scaling up financing for water investments

BY PAUL TENTENA 

Africa must urgently close the financing gap for water and sanitation investments if the continent is to accelerate progress on sustainable development, climate resilience and economic transformation, Claver Gatete, Executive Secretary of the Economic Commission for Africa, said at the African Development Bank Group 2026 Annual Meetings.

Gatete, who was speaking at a high-level event on Financing Africa’s Water Investments, commended the African Development Bank Group, the African Union Commission, the African Ministers’ Council on Water and partners for convening what he described as a timely and strategic discussion on Africa’s water future.

“The challenge is not a lack of solutions; it is about how we prioritize, finance and implement them at scale,” Gatete said, noting that the discussions had highlighted practical experiences, concrete pathways and the urgent need to translate ambition into action.

He said the event came at a critical moment for the implementation of the Africa Water Vision 2063, which seeks to achieve a water-secure and resilient Africa with safe sanitation for all.

Gatete placed Africa’s water challenge within the broader global context, noting that 2.2 billion people worldwide still lack safely managed drinking water, while 3.4 billion lack safely managed sanitation. In Africa, more than 400 million people lack access to basic drinking water and over 700 million remain without safely managed sanitation.

He warned that water-related investments continue to receive less than 3% of global climate finance, despite water being the primary channel through which climate impacts are felt through droughts, floods and variability.

“This imbalance has created a growing disconnect between the scale of the risk and the scale of investment,” he said.

According to Gatete, Africa requires more than US$50 billion annually to meet Sustainable Development Goal 6 on clean water and sanitation, yet current investment stands at only US$12 to US$15 billion per year.

He stressed that the implications of this financing gap extend beyond the water sector, affecting agriculture, energy, industry, urban development, public health and climate resilience.

“Underinvestment in water is not only a social concern but a structural economic constraint,” he said.

Gatete called for a fundamental reframing of water in Africa’s economies. He said water should not be seen only as a utility to be delivered, but as “the bloodstream of our economies,” sustaining food systems, energy generation, industrial development, ecosystem integrity, public health and regional integration.

He added that water is also central to unlocking the potential of Africa’s blue economy and must be treated as an investable asset capable of driving growth, jobs and resilience.

Outlining four priorities for action, Mr. Gatete urged countries to place water at the centre of economic policy and decision-making by integrating it into national development plans, fiscal strategies and investment frameworks.

He also called for stronger project preparation systems to build a robust pipeline of bankable and investment-ready water projects, including innovative solutions such as wastewater reuse, nature-based systems and climate-resilient sanitation infrastructure.

Third, he emphasized the need to expand blended finance and risk-sharing instruments, including through platforms such as the African Water Facility, to crowd in private capital and diversify financing sources. He further noted that expanding fiscal space through stronger debt management and financing reforms would be essential.

Fourth, Gatete called for stronger governance, credible data systems and accountability frameworks to ensure that investments deliver measurable, inclusive and sustainable outcomes.

“The next phase must focus on turning the discussions into tangible results, including financed projects, stronger partnerships and improved access to water and sanitation for millions across Africa,” he urged.