Latest news with #AU-AIPWaterInvestmentSummit
TimesLIVE
5 days ago
- Business
- TimesLIVE
Investors needed to close Africa's $30bn annual water investment gap
Minister of water and sanitation Pemmy Majodina has called on investors to 'put their money where their mouths are' to address Africa's growing water crisis, warning that without urgent action, the continent's economic and social progress will be stifled. Speaking to the SABC outside the Cape Town International Convention Centre on Tuesday, during the opening of the inaugural AU-AIP Water Investment Summit, Majodina said the government could not deliver sustainable water provision alone. 'We want sustainable water provision, hence government cannot do it alone. We need investors. They are going to make pledges here,' she said. 'We've already packaged close to 38 projects in a bankable fund. Put your money where your mouth is, because water is where money is needed.' The three-day summit taking place from August 13 coincides with South Africa's G20 presidency, which is a first for an African nation.
IOL News
5 days ago
- Business
- IOL News
Ramaphosa launches Global Water Council to mobilise $30 billion for Africa's water crisis
President Cyril Ramaphosa says $30 billion a year must be invested by 2030 to transform water from a crisis into an opportunity for Africa's growth, stability, and sustainable development. President Cyril Ramaphosa has called for water to be placed at the centre of global climate and finance discussions, declaring that the time has come to transform water from a crisis sector into an 'opportunity sector.' Speaking at the AU-AIP Water Investment Summit in Cape Town on Wednesday, Ramaphosa officially launched the Global Outlook Council on Water Investments, a new international body aimed at driving finance and leadership toward closing Africa's water investment gap. The Council is a key G20 Presidential Legacy Initiative under South Africa's presidency and will serve as the political and investment platform to track progress, unlock finance, and align efforts across global institutions. 'This Summit is a landmark moment not only for Africa, but for the global movement for access to safe water for all,' Ramaphosa said. 'We gather here as decision-makers, investors, financiers and champions at a time when the world faces a deepening water crisis. Yet, this is also at a moment of immense opportunity. If we rise together, water can become not just a means of survival but a driver of economic transformation, innovation and peace.' The Global Outlook Council builds on a process that began in 2016 with the High-Level Panel on Water, launched by then UN Secretary-General Ban Ki-moon and World Bank President Jim Yong Kim.
