By Lesedi Sibiya-Diplomatic Insider
The Water Investment summit which was held under South Africa’s G20 presidency, brought together a total of 38 Ministers of water from all over the continent as well as key investors and development partners.
The two day summit will be held from the 13th of August to the 14th of August at the Cape Town Convention Centre.
The aim of the summit is to close the $30 billion annual gap in water investment. “This is a moment of immense opportunity.
Water must no longer be an afterthought in climate and finance discussions. It must be at the centre, financed, tracked and championed.” said President Cyril Ramaphosa when addressing the delegates in attendance.
Another aim of the summit is to utilize investments in order to secure bankable climate resilient water and sanitation projects, as well as ensuring the stability of water, sustainable development and economic growth.
Ramaphosa had noted the Global Council in regards to water investment, in order to ensure the upscaling of the Africa Water Investments Programme to turn into a global water investment bank.
The council will be composed of various political global leaders such as Brazilian President Luiz Inacio Lula da Silva, UK Prime Minister Keir Starmer and Philanthropist Bill Gates among others.
“We must build a world where water is recognised as a human right and not weaponised against women, children and communities” said Ramaphosa.
The Summit will also focus on four important key goals such as; Showcasing a pipeline of 80 priority projects from 38 countries; Endorse a summit declaration committing to upscale investments, strengthen governance; and Increasing accountability in the water sector as well positioning water as a political and economic priority.
“Our goals are clear, and so is our intention. Today we go further bringing Africa and International partners together, and calling on investors to answer the call to invest in water. Water has too often been relegated to the back of the agenda. We are bringing it to the fore to ensure it takes its rightful place as a global investment priority.”