Waterfund LLC and IBM have signed an agreement with the Ministry of Water and Environment of the Republic of Uganda, making it the first African country on the Water Cost Index (WCI).
Waterfund, with IBM acting as calculation agent, will work with the Ministry of Water and Environment to calculate the cost of producing water in Uganda. This work will reflect estimated water production costs measured in US dollars per cubic metre and be published as part of the Rickards Real Cost Water Index™, to be updated monthly.
“Becoming part of Waterfund’s benchmark index for water costs will help place Uganda at the forefront of innovation in finding significant funding solutions to realise our water infrastructure goals,” said Hon. Professor Ephraim Kamuntu, Uganda’s Minister of Water and Environment.
“The unprecedented level of transparency that the index will bring to pricing water sector investments in Uganda will be a great asset in attracting private sector funding that can help us provide clean and safe freshwater to all our citizens. It gives us great pleasure to work with Waterfund and IBM and harness their expertise to make this happen.”
The Rickards Real Cost Water Index™ will highlight the energy costs, interest rate risk, and capital expenditures required to build and maintain large-scale water treatment and delivery networks in Uganda.
President & CEO of Waterfund Scott Rickards said “This innovative spirit, combined with Waterfund’s first of its kind water cost index and IBM’s unrivalled expertise in Big Data analytics, will bring real financial transparency to Uganda’s water sector and significantly broaden the funding options available to ensure sufficient investment in freshwater infrastructure.”
