Africa must urgently close the financing gap for water and sanitation investments if the continent is to accelerate progress on sustainable development, climate resilience and economic transformation.

This was the message from UN Economic Commission for Africa executive secretary Claver Gatete during a high-level side event on Financing Africa’s Water Investments, held amid the African Development Bank Group 2026 annual meetings from May 25 to 29.

He warned that water-related investments continue to receive less than 3% of global climate finance, despite water being the primary channel through which climate impacts are felt through droughts, floods and variability.

“This imbalance has created a growing disconnect between the scale of the risk and the scale of investment,” he said.

Africa requires more than $50-billion annually to meet Sustainable Development Goal 6 on clean water and sanitation, yet current investment stands at only $12-billion to $15-billion a year.

Within the broader global context, 2.2-billion people worldwide still lack safely managed drinking water, while 3.4-billion lack safely managed sanitation.

In Africa, more than 400-million people lack access to basic drinking water and over 700-million remain without safely managed sanitation.

“The challenge is not a lack of solutions; it is about how we prioritise, finance and implement them at scale,” Gatete said, noting that the discussions had highlighted practical experiences, concrete pathways and the urgent need to translate ambition into action.

Underinvestment in water is not only a social concern but a structural economic constraint, he continued, stressing that the implications of this financing gap extended beyond the water sector, affecting agriculture, energy, industry, urban development, public health and climate resilience.

Calling for a fundamental reframing of water in Africa’s economies, he said that water should not be seen only as a utility to be delivered, but as “the bloodstream of economies”, sustaining food systems, energy generation, industrial development, ecosystem integrity, public health and regional integration.

“Water is also central to unlocking the potential of Africa’s blue economy and must be treated as an investable asset capable of driving growth, jobs and resilience.”

Gatete further outlined four priorities for action, urging countries to place water at the centre of economic policy and decision-making by integrating it into national development plans, fiscal strategies and investment frameworks.

Stronger project preparation systems are also required to build a robust pipeline of bankable and investment-ready water projects, including innovative solutions such as wastewater reuse, nature-based systems and climate-resilient sanitation infrastructure.

In addition, there is a need to expand blended finance and risk-sharing instruments, including through platforms such as the African Water Facility, to crowd in private capital and diversify financing sources.

Expanding fiscal space through stronger debt management and financing reforms will also be critical.

Lastly, Gatete called for stronger governance, credible data systems and accountability frameworks to ensure that investments delivered measurable, inclusive and sustainable outcomes.

“The next phase must focus on turning the discussions into tangible results, including financed projects, stronger partnerships and improved access to water and sanitation for millions across Africa,” he said.

While commending the African Development Bank Group, the African Union Commission, the African Ministers’ Council on Water (AMCOW) and partners for convening a timely and strategic discussion on Africa’s water future, he said that the event emerged at a critical moment for the implementation of the Africa Water Vision 2063, which seeks to achieve a water-secure and resilient Africa with safe sanitation for all.

Gatete reaffirmed the commission’s readiness to work with the African Development Bank, the African Union Commission, AMCOW, Regional Economic Communities and partners to support implementation of the Africa Water Vision 2063.

“Together, we can deliver for Africa,” he concluded.