Water is essential for maintaining public health systems, for domestic use and for industrial use. According to the national government, Kenya has a KES 995 billion financing gap to meet the target of 100 per cent universal access to water by 2030.
Family Bank through Maji Plus is providing a financial solution to relevant stakeholders in the water, sanitation and hygiene sector (WASH) including households, public utility companies, small scale water service providers, community water service providers and MSMEs. This tailored solution offers affordable loans towards the WASH sector for water drilling and supply, packaging, solid waste management and sanitation provisioning.
Additionally, the solution has a long repayment period of up to 60 months and a stay period of between 6-12 months, which gives the borrower relief from repayment until the project breaks even. The borrower also receives up to 80 per cent in financing with no collateral needed.
Suleiman Juma lives in Nguluni area, which is a rural settlement in Machakos County that has no access to distributed clean water by the local authority. Upon retiring, he decided to begin farming in Nguluni, but soon discovered that the area has a water scarcity problem. This inspired him to drill a borehole and establish his company, Kumon Fresh Aqua Limited. His company deals in the supply of clean piped water to the community at a similar cost to the one charged by the local authority.
Suleiman approached Family Bank when he wanted to expand his business to serve more people in the community. He was able to receive working capital through the Maji Plus facility to increase water distribution and connection through piped water and build a second water kiosk to cater for those who are not connected to the water pipeline.
Kumon Fresh Aqua Limited now pumps 24,000 litres of water per day and has a network of piping across the village which distributes piped water to over 80 homesteads in Nguluni. The business has also expanded to providing purified bottled water to residents who need safe drinking water at an affordable cost. His business has managed to empower 6 employees, including his son who serves as a project manager.
Family Bank is committed to walking with Suleiman on his journey of growth and expansion to his other business ventures. Just like Suleiman, we are ready to walk with you and your business for life. For more information, visit: http://192.168.0.132/loans/majiplus/
