Ekondo Microfinance Bank has partnered with the Toiletpride Initiative to launch a sanitation financing project aimed at providing affordable loans for household toilets and small businesses across Cross River State.
The initiative, titled “Sanitation Financing for Low-Income Families in Cross River State,” seeks to address the state’s significant sanitation gap. Official data from the State Roadmap for the Elimination of Open Defecation reveals that approximately 80 per cent of the population roughly 2.3 million people currently lack access to improved sanitation facilities.
The Managing Director of Ekondo Microfinance Bank, Mr. Charles Abiola Efedoama, expressed the bank’s commitment to the project, noting that it aligns with their mission to provide inclusive financial services to vulnerable communities.
“We are very glad to be part of this project. Currently, we have a WASH project running internally as a bank. We would like to partner with Toiletpride and Cross River State to create a significant impact in the communities,” Efedoama said.
He further urged both urban and rural residents to adopt the scheme, describing it as a life-saving system that enhances productivity by ensuring stable health conditions.
Under the partnership, the bank will provide enterprise expansion loans ranging from N300,000 to N500,000 for 50 small sanitation businesses, totaling N25 million. Additionally, consumer loans between N70,000 and N100,000 will be made available to 500 low-income families to facilitate the purchase of durable toilets.
Mr. Chukwuma Nnanna, Executive Director of Toiletpride, highlighted the economic potential of the sector, estimating that the sanitation economy in Cross River State is worth over N150 billion.
“We have made a strong case for sanitation. This presents a tremendous opportunity for small businesses to improve livelihoods and create jobs. We will continue to promote Market-Based Sanitation,” Nnanna said.
Toiletpride brings over seven years of experience to the collaboration, having already facilitated the sale of 12,000 toilets and supported 140 sanitation businesses across five states.
The pilot phase of this initiative will focus on the Yala, Obubra, and Odukpani Local Government Areas. It specifically targets existing Toilet Business Owners who have previously received technical support through the WASH Systems for Health Programme.
