{"id":582605,"date":"2023-03-13T00:00:00","date_gmt":"2023-03-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/13\/metito-bii-launch-investment-platform-to-tackle-water-insecurity-in-africa\/"},"modified":"2023-03-13T00:00:00","modified_gmt":"2023-03-13T00:00:00","slug":"metito-bii-launch-investment-platform-to-tackle-water-insecurity-in-africa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/13\/metito-bii-launch-investment-platform-to-tackle-water-insecurity-in-africa\/","title":{"rendered":"Metito + BII launch investment platform to tackle water insecurity in Africa"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Metito + BII launch Africa water investment platform:<\/span><span style=\"\"> Dubai-based water and <\/span><span style=\"\">wastewater treatment player Metito and the UK\u2019s development finance institution, British International Investment (BII), yesterday launched an investment platform that will finance projects to improve water security across Africa, according to <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/AWID-Press-Release-Egypt-Version-090323-002.pdf\" style=\"\">a joi<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/AWID-Press-Release-Egypt-Version-090323-002.pdf\" style=\"\">nt stateme<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/3\/AWID-Press-Release-Egypt-Version-090323-002.pdf\" style=\"\">nt (pdf)<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">A commercial model for investment in water infrastructure:<\/span><span style=\"\"> The Africa Water Infrastructure Development (AWID)<\/span><span style=\"font-weight:400;\"> will target sustainable water projects at scale to address the funding gap in water security, Metito\u2019s managing director Rami Ghandour and BII\u2019s managing director and head of Africa Chris Chijiutomi said at the launch at the British Embassy in Cairo. The headquarters of the venture have not yet been set but AWID will initially operate from Dubai, Metito\u2019s headquarters. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The JV has been seeded with two existing projects:<\/span><span style=\"\"> The first is a desalination project in Sharm El Sheikh that since 1999 has provided 63 hotels with potable water and some wastewater management services. The second is a water treatment facility in Kigali, Rwanda, established two years ago. <\/span><span style=\"font-weight:700\">Future investments are already in the pipeline<\/span><span style=\"font-weight:400;\">, Ghandour told Enterprise, without giving further details, saying that no specific timeline has been established.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AWID doesn\u2019t have a fixed amount of capital:<\/span><span style=\"font-weight:400;\"> The financing provided by the two partners will be determined by the projects accepted, Ghandour told Enterprise, declining to disclose a specific figure. Metito and BII will split financing for AWID 60:40, with Metito contributing the majority, he added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">BII \u201cis looking to commit anywhere between USD 1 and 2 bn across all our markets\u201d in 2023<\/span><span style=\"font-weight:400;\">, Chijiutomi told us. Last year saw the agency invest USD 1.7 bn in a similar joint venture with Dubai Ports World, for projects in the African ports and logistics sector. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">AWID wants \u201cbankable\u201d and \u201cinvestable\u201d projects, Chijiutomi said. <\/span><span style=\"font-weight:400;\">BII\u2019s funds for AWID will either come in the form of direct investment or by mobilizing other commercial capital, he added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">BII is taking a long-term, patient approach:<\/span><span style=\"font-weight:400;\"> The high inflationary environment in Egypt poses an opportunity for BII, as a counter-cyclical investor, Chijiutomi said. The agency wants to invest long-term, patient capital, \u201cwhich is what we think is required in this ecosystem\u201d he added. Looking ahead, BII wants to explore investments in the green hydrogen and food and agriculture sectors in Egypt, as well as pharma, venture capital targeting the tech sector and SMEs.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Metito has a track record in Egypt\u2019s water infrastructure industry:<\/span><span style=\"\"> The company, alongside Hassan Allam Holding, Orascom Construction, and Arab Contractors, is developing the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2021\/08\/09\/worlds-biggest-wastewater-plant-gets-more-financing-50102\/\" style=\"\">Al Mahsama agricultural drainage treatment plant<\/a><\/span><span style=\"\">. Focused on providing water infrastructure in emerging markets, Metito wants to take a \u201cbold [investing] approach\u201d that \u201cbrings in private sector capital,\u201d Ghandour said. AWID will target Egypt as the government has positioned the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/07\/checking-in-on-the-governments-ppp-plans-90439\/\" style=\"\">water infrastructure and security<\/a><\/span><span style=\"font-weight:400;\"> as a key priority for its privatization strategy, he added.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">British companies are keen on water projects in Egypt:<\/span><span style=\"font-weight:400;\"> UK company, British Water has recently signed an MoU with the Housing Development to provide smart water infrastructure to 42 new cities across Egypt, British Ambassador to Egypt Gareth Bayley added at the launch.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Metito and BII will split financing 60:40, with Metito contributing the larger share.<\/p>\n","protected":false},"author":1,"featured_media":582606,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[2184,6742,72,125,827,6743],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-582605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-british-international-investment","tag-egypt-uk-relations","tag-enterpriseam","tag-investment-watch","tag-metito","tag-water-security","wpautop","entry"],"acf":{"mongo_id":"3429078d-bd09-4619-9fb2-c4180382c25b","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/BII_Metito-signing-on-AWID_British-Embassy-2-x1600.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[582596],"teaser":"Metito and BII will split financing 60:40, with Metito contributing the larger share.","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.d91275dc-bccf-439c-a8c2-aaf58a6cd214.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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