Africa faces looming water scarcity crisis

South Africa has faced significant challenges in recent years with both electricity and water shedding, emphasizing the critical need for improved water management and sustainability. The issue of water scarcity extends beyond South Africa, impacting numerous African countries and leading to substantial economic losses due to inadequate access to clean water. Standard Bank has taken the initiative to tackle these challenges by promoting sustainability through various strategic initiatives. In a recent interview with CNBC Africa, Dr. Manessah Alagbaoso, Head of Business Ecosystems and Sustainability at Business and Commercial Banking for the Standard Bank Group, shed light on the pressing issues surrounding water scarcity in Africa and the efforts being made to address them. One of the primary drivers of water issues in South Africa, according to Dr. Alagbaoso, is the country's status as a water-stressed nation. While Southern Africa as a whole faces water stress, climate change has further exacerbated the situation, making sudden droughts a more frequent occurrence. This highlights the necessity for proactive measures to tackle water scarcity before it escalates into a crisis. Dr. Alagbaoso emphasized the importance of collective responsibility, urging both the government and citizens to actively participate in water conservation efforts. Drawing parallels with the electricity load shedding crisis in South Africa, Dr. Alagbaoso pointed out valuable lessons that could be learned in addressing water scarcity. By emphasizing early intervention and preventative measures, he stressed the need to avoid waiting for a crisis to emerge before taking action. Water scarcity has significant economic implications, with an estimated $28 billion in annual productivity losses across Africa attributed to water-related issues. Dr. Alagbaoso underscored the impact on various sectors such as agriculture, manufacturing, and services, where access to quality water directly influences productivity and operational costs. Households in Africa are particularly burdened by the cost of obtaining usable water, with an average expenditure of $1,600 per year. Dr. Alagbaoso highlighted specific interventions, citing a case in Uganda where rural communities had to boil water for purification, incurring health risks and environmental damage. To address these challenges, innovative solutions such as water filtration technologies can play a crucial role in reducing household costs and promoting sustainability. Businesses and financial institutions have the opportunity to support communities by investing in such initiatives that not only alleviate financial burdens but also yield environmental benefits. In conclusion, the conversation with Dr. Manessah Alagbaoso offered valuable insights into the pressing water scarcity crisis facing Africa and the multi-faceted approach required to address these challenges. By fostering a culture of water conservation, implementing proactive strategies, and investing in sustainable solutions, stakeholders can work together to mitigate the adverse effects of water scarcity and build a more resilient future for the continent.