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Impact Investing for Urban Sanitation: Opportunity Mapping and Market Strengthening Tool


An estimated 4.2 billion people worldwide lack access to safely managed sanitation services (World Bank, 2019). Public sector budgets are falling far short of what is required, and a fragmented market, complex policy and regulatory risks, and inadequate data are preventing the private sector from filling the investment gap.

Scope of work

Athena is a data-driven global consultancy that uses social research methods and ICT to drive innovation in programmes and policies in developing countries. The grant provided by the IMPACT Programme will fund the development of a market-level investment analysis tool to assess the financial returns, social impacts, and risks of investments in the sanitation sector focusing on India and Kenya. The tool, developed in partnership with Open Capital Advisors, will collect both market and company-level data to assess performance and sensitivity to risk  whilst also increasing the visibility of promising businesses in the sanitation sector and allow investors to make better-informed investment decisions.