Kigali, 13 December 2017- The Government of Rwanda and Metito have announced the Financial Close of the First Bulk Surface Water Supply Public Private Partnership (PPP) project in Rwanda and Sub Saharan Africa during a function which took place at Ministry of Infrastructure, in Kigali.

The finalisation of this PPP Agreement spells the start of execution of the highly-anticipated Kigali Bulk Water Supply project (the ‘Project’) with construction forecasted to last 30 months from the commencement date.

The Project is being developed on a Build, Operate and Transfer (BOT) basis and will be located in Kanzenze, Bugesera District. The plant will have the capacity to supply up to 500,000 people in Rwanda’s capital, Kigali, providing 40 million liters of fresh, clean water a day.When complete, the facility will provide around one third of Kigali’s water. In addition to the public health and economic development benefits of the project for Kigali’s one million population, it will also mean a significant reduction in water rationing in the city.

Speaking at the event, Eng. Aime Muzola, Chief Executive Officer of the Water and Sanitation Corporation (WASAC Ltd) said, “The Kigali Bulk Surface Water Supply project will put in place the needed infrastructure, which will contribute to Rwanda’s ongoing economic development. It will also end water shortage in many areas in Kigali, ensuring 100% access to clean water every day. The project will be completed in two and half years therefore cementing the certainty of achieving our National Strategy for Transformation goals of providing 100% access to clean water for all in Rwanda”.

David White, Chairman of the Emerging Africa Infrastructure Fund noted that the conclusion of the financing is tremendous news for Rwanda. “Fresh, clean water has a fundamental role to play in economic development and water-dependent businesses like hotels, food processing and leisure, will have greater confidence in investing in Kigali. The financing exercise has been a model of cooperation between EAIF, the AFDB, the Government of Rwanda, and Metito.”,  he added.

On behalf of Metito, Mutaz Ghandour, Metito Chairman and CEO, said “The Kigali Bulk Water Supply PPP project puts Rwanda on the map for the international investor community and marks a historic moment for the country. Together, today, we are setting a precedent not only for Rwanda, but for the whole of Sub-Saharan Africa, and surely for Metito. Once complete,this will become an exemplar project for PPPs in the region – there is no doubt – so today,we must all celebrate alongside the People of Rwanda”

This iconic Project is being developed by Kigali Water Limited (KWL), a fully owned subsidiary of Metito, a global provider for intelligent water management solutions. KWL will design, build, maintain and operate the treatment plant and will then sell potable water to the Water and Sanitation Corporation of Rwanda (WASAC) under the 27- year PPP Agreement.

The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), is the mandated Lead Arranger of the financing of this Project which is worth US$60.8 million. EAIF and The African Development Bank (AFDB) are covering US$40.6 million of the capital cost of the Project; US$38 million of Senior Debt and  US$2.6 million of Junior Debt with all loans on 18-year terms. The balance will be provided by Metito as equity finance. The Project also benefits from a US$6.25 million grant from PIDG’s Technical Assistance Fund.