OCA Impact Stories: Water.org launches partnerships in Nigeria with financial institutions to mobilize USD 19M for access to water and sanitation

Open Capital supported Water.org's market entry strategy into Nigeria, with a comprehensive assessment of the water and sanitation sector, identifying and facilitating key partnerships with financial institutions to launch its WaterCredit model.

Water.org is a global nonprofit organization dedicated to breaking down the barriers between people living in poverty and access to safe water and sanitation. With a proven track record of impact, Water.org has empowered 76 million lives across 15 countries in Africa, Asia, and Latin America by utilizing philanthropic funds to set up market-driven financial solutions. Seeking to expand its reach to Nigeria, Water.org aimed to assess the country's water supply and sanitation (WSS) landscape.

To facilitate a successful market entry, Open Capital mapped the WSS value chain and broader WSS ecosystem, assessing the financial landscape, regulatory environment, and household demand for WSS financing. Through a series of key informant interviews and focus group discussions, we identified opportunities for impact and leveraged insights from our research to develop clear recommendations for Water.org’s entry strategy.

Our engagement contributed to the client’s decision to advance their market entry plans for Nigeria and facilitated successful partnerships with 3 local financial institutions to launch the WaterCredit loan program, having a combined reach of 40 million customers. Through these partnerships, Water.org aims to mobilize USD 19 million in capital for households and MSMEs in Nigeria.

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Our experience working with Open Capital has been great; we particularly appreciate their professionalism and in-depth analysis of Nigeria's WASH sector. Open Capital's assessment report mapped the WSS value chain and broader WSS ecosystem, assessing the financial landscape, regulatory environment, and household demand for WSS financing. Of particular importance is the insight into financial institutions and associations, which enhanced our partner selection process.

Jamilla Kang'ahi Rajabu, Portfolio Manager - Water.org.