Water entrepreneurship and financialisation: Complexities for the attainment of SDG in sub-Saharan Africa

Abstract

This study explores the potential of water financialisation and entrepreneurship in sub-Saharan Africa (SSA) to supplant the traditional responsibility of national, state, and local governments in providing public water supply, aligning with SDG Goals. Despite its typical association with the global north, a shifting landscape reveals emerging financial actors and multinational companies playing a more prominent role, prompting governance and accountability inquiries. Given the dearth of investment and persisting challenges in SSA's water infrastructure, the burgeoning involvement of financial actors and capital management entities in the water cycle seems inevitable. However, this trend raises concerns about exacerbating global water stress. Through qualitative methods, the study engaged 50 SSA participants via open-ended questionnaires, analysed using thematic analysis. The findings underscore a nuanced perspective. While acknowledging the potential of water financialisation and entrepreneurship to drive essential investment in SSA's water sector, the research emphasizes the irreplaceable role of government in policy execution and safeguarding citizens' well-being. Government intervention remains crucial to ensuring equitable water access and sustainability. Additionally, the analysis suggests that overemphasizing water financialisation could divert attention from critical infrastructural and technological advancements needed in SSA's water sector. This underscores the necessity of a balanced and comprehensive approach to address the multifaceted challenges surrounding water availability, governance, and sustainability in the region.