Kampala, 29th October 2024– Centenary Bank, Uganda’s largest commercial microfinance institution, has today launched a partnership with Water.org that is aimed at developing a water supply and sanitation (WASH) program for a wash loan product for both micro and SME segments to finance access to clean water.
This shall be through water collection, bore halls, connection to water supply, construction of toilets, sewage management and washing hands solutions for households and institutions. The product will be included under the green financing products of the bank which are; solar, power, and green loan products.
As part of this partnership, Water.org has donated USD 200,000 (UGX 732,263,000) to cover the operational costs of staff training at Centenary Bank and the promotion of these loans.
According to WaterAid UK, over 19 million people in Uganda lack clean water close to their homes. Although much of Uganda comprises open water and swampland, this water is not fit for consumption.
Speaking at the launch, Centenary Bank’s Managing Director, Fabian Kasi, expressed his gratitude to Water.org for their ongoing dedication to improving Ugandans’ access to water.
“I would like to thank Water.org for their commitment to enhancing access to safe water and sanitation. Water.org has already helped millions of people around the world access affordable water and sanitation solutions, and its presence here in Uganda has made a significant positive impact on numerous communities. This partnership will be a game-changer for key players in water-based industries, providing them with entry points into various sectors that influence the livelihoods of many Ugandans,” he said.
He further added, “We are also extremely grateful for Water.org’s generous grant of USD 200,000 (UGX 732,263,000), which will go towards covering the operational costs of training our staff and promoting these micro-housing loans. This grant will empower us to reach more households with innovative and impactful financing solutions for water and sanitation, thereby improving health outcomes and overall quality of life.”
Each year, Centenary Bank allocates 1 to 2% of its previous year’s profits to Corporate Social Investment (CSI). This year, the bank has committed UGX 2.9 billion towards various initiatives, including community stakeholder support, the social mission of the church, health, education, financial literacy, and environmental conservation.
In his remarks, Mr. Francis Musinguzi, the Regional Director of Africa, Water.Org, thanked Centenary Bank for embracing the opportunity to collaborate on such an impactful initiative.
“We at Water.org are thrilled to work alongside Centenary Bank, an institution deeply rooted in the Ugandan community, with a nationwide branch network. This is a crucial asset in advancing our mission to ensure access to water for Ugandans across the country. With Centenary Bank as our partner, we are confident in our ability to make this vision a reality,” he emphasized.
Dr. Callist Tindimugaya, the Commissioner of the Water Resources Planning and Regulation Department at the Ministry of Water, expressed gratitude to Centenary Bank for spearheading a private sector initiative to improve access to water across Uganda.
“Access to safe water in rural Uganda has stagnated, and there is concern that this coverage may be declining. We are very pleased to see the private sector taking an active role in financing water and sanitation improvement projects. This involvement broadens the scope for enhancing water access coverage and aligns with the government’s plan to ensure that all Ugandans have access to safe water. We believe that collaborations like this one will significantly contribute to achieving these critical goals.”
Water.org is a global nonprofit organization with 32 years of experience, is headquartered in Kansas City, USA, and operates across multiple African countries, including Kenya, Tanzania, Rwanda, Nigeria, and Uganda.
The initiative will target 13,000 households and aims to reach a total of 17,000 customers with a focus on expanding access to safe water and sanitation through affordable financing solutions.
