The pilot initiative will focus on the Yala, Obubra, and Odukpani Local Government Areas (LGAs), targeting existing TBO network members who …
By The Investigator
Ekondo Microfinance Bank (Ekondo MFB), a leading microfinance institution based in Calabar, is excited to announce a groundbreaking partnership with Toiletpride Initiative aimed at addressing the sanitation crisis in Cross River State.
The partnership, titled “Sanitation Financing for Low-Income Families in Cross River State,” outlines a strategic collaboration to provide affordable loans for household toilets and support small sanitation businesses.
Cross River State faces significant sanitation challenges; official data from the State Roadmap for the Elimination of Open Defecation indicates that approximately 80% of the population, around 2.3 million out of about 2.9 million people, lack access to improved sanitation facilities.
Following a technical meeting, the management of Ekondo Bank expressed enthusiasm for this opportunity, viewing it as a perfect alignment with the bank’s long-standing mission to provide inclusive financial services that uplift vulnerable communities throughout the state.
Mr Charles Abiola Efedoama, the Managing Director of Ekondo Microfinance Bank, stated, “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.”
The MD encouraged communities to embrace this initiative for improved health and enhanced productivity. He said, “There are communities that currently have very low hygiene and sanitation practices. We want to encourage the people of Cross River to adopt this initiative. It is a life-saving system that will help them be more productive, since good sanitation practices lead to stable health conditions. We urge both urban and rural populations to embrace this initiative.”
On his part, Mr Chukwuma Nnanna, Executive Director of Toiletpride, expressed excitement about the partnership with the bank, stating, “We have made a strong case for sanitation.”
He noted that “sanitation is a business,” adding that their assessments indicate the sanitation economy in Cross River State is worth over N150 billion. “This presents a tremendous opportunity for small businesses to improve livelihoods and create jobs. We will continue to promote Market-Based Sanitation (MBS).”
Toiletpride, an NGO with over seven years of experience in promoting MBS approaches, has already made a considerable impact across Nigeria, having sold 12,000 toilets, positively affecting over 28,000 families in five states (including Cross River), strengthened 140 small sanitation businesses, and trained 250 sales agents.
This proposed initiative seeks to address a critical barrier: limited access to financing for both consumers and sanitation entrepreneurs. Traditional financial products often come with high interest rates and lack a specific focus on sanitation, hindering progress towards Nigeria’s Sustainable Development Goals (SDGs) for sanitation.
Under this partnership, Ekondo Bank plans to provide:
– Enterprise expansion loans ranging from N300,000 to N500,000 to 50 small sanitation businesses (Toilet Business Owners or TBOs), totalling N25 million.
– Consumer loans of N70,000 to N100,000 to 500 low-income families for purchasing quality, durable toilets, totalling N7 million (the initial target being N70,000 × 500 = N35 million overall package).
The pilot initiative will focus on the Yala, Obubra, and Odukpani Local Government Areas (LGAs), targeting existing TBO network members who have previously received support through Toiletpride and partners like Self Help Africa (SHA) as part of the WASH Systems for Health Programme.