The Eldoret Water and Sanitation Company (Eldowas) earlier this week entered into a Memorandum of Understanding (MoU) with the Kenya Association of Stockbrokers and Investment Banks (KASIB).
An update on the company’s official social media pages indicates that the MOU will seek to enhance its capital-raising initiatives.
The new deal allows Eldowas to raise finances through the Capital Markets.
“Through this collaboration with KASIB, we aim to secure the necessary funding for vital projects in the water and sanitation sector,” Eldowas noted.
“KASIB, representing stock brokerage and investment banking companies, brings invaluable expertise and resources to the table,” the company added.
The MOU entails promoting business collaboration between KASIB members and ELDOWAS and initiatives to encourage bond issuance and other capital-raising opportunities.
In addition, the MoU will enable Eldowas and KASIB to establish a Bond Issuance Success Committee to plan, conduct feasibility studies, engage advisors, and ensure the success of these endeavours.
According to Eldowas, the new partnership signifies its unwavering commitment to fostering sustainable development and providing clean water and sanitation services for all.
“By leveraging the expertise and network of KASIB members, we are confident in our ability to attract investments and advance our projects,” the company said.
Moreover, this collaboration aims to bridge the financing gap for water companies in Kenya and is representative of a bold step forward in attaining development objectives in the water sector.
Water Sanitation and Health (WASH) investments need Ksh1.8 trillion but have a Ksh995 billion funding deficit in the water sector in Kenya.
Eldowas is a company owned by the County Government of Uasin Gishu. It’s mandated to provide water as well as sewerage services to locals within the Eldoret Municipality.
