African Leaders Commit to Mobilize $30 Billion Annually for Water Security and Sanitation by 2030
The 2023 SDG Summit, marking the midpoint to the 2030 SDG deadline, includes a commitment in its Political Declaration to address water scarcity and stress.
New York, US - African leaders have announced a bold commitment to raise $30 billion per year by 2030 to ensure water security and sustainable sanitation across the continent, writes Winston Mwale.
This pledge comes as part of the "Mind the Gap – Invest in Water" campaign, which aims to address pressing water-related challenges in Africa and accelerate progress toward achieving Sustainable Development Goal 6 (SDG 6) on clean water and sanitation.
The campaign is championed by the African Union Commission and supported by the International High-Level Panel on Water Investments for Africa, a part of the Continental Africa Water Investment Programme (AIP).
The launch of "Mind the Gap – Invest in Water" took place on the sidelines of the 78th United Nations General Assembly and the 2023 Sustainable Development Goal Summit in New York.
The 2023 SDG Summit, marking the midpoint to the 2030 SDG deadline, includes a commitment in its Political Declaration to address water scarcity and stress.
To achieve water security in Africa by 2030, an estimated $50 billion annually is required, but the current investment stands at $10 to $19 billion per year.
New sources of funding are urgently needed to accelerate the implementation of water-related SDGs on the continent.
The campaign aims to raise awareness, drive change, and mobilize investments through partnerships involving continental institutions and organizations.
It addresses systemic challenges, or "gaps," that hinder investors, including governance gaps, financial challenges, and capacity limitations.
African countries face substantial economic losses of up to $200 billion annually due to insufficient investment, coupled with the impacts of climate change and inefficiencies in water management. More than 300 million Africans lack access to clean drinking water, and over 700 million lack adequate sanitation facilities. Climate change threatens to exacerbate water shortages, leading to food insecurity, disease outbreaks, displacement, and conflicts.
The "Mind the Gap – Invest in Water" campaign will focus on potential sources of finance for water investment in Africa, as outlined in the High-Level Panel's Pyramid of Water Transformation.
These sources include sector governance improvements, valuing water-related risks, institutional investors, pollution and mineral resource taxes, African government budgets, national banks, multilateral climate funds, multilateral and development finance institutions, and bilateral official development assistance (ODA) and philanthropy.
The International High-Level Panel on Water Investments for Africa is committed to mobilizing resources to implement water-related actions in the 2030 Agenda for Sustainable Development.
The Panel emphasizes the urgency of addressing water challenges, aligning with the outcomes of recent African Climate Summit discussions.
The "Mind the Gap – Invest in Water" campaign serves as a call to action to secure funding, address water challenges, and work towards ensuring water security, sanitation, and resilience in Africa.