This article analyses a range of diverse and often conflicting practices in and around a waterway in Accra, Ghana, emphasising the ambiguity of their politics. Urban political ecology approaches have demonstrated how flows of (waste)water reveal power dynamics across scales. I extend such insights by developing an understanding of practices that are more ambiguous, complexifying otherwise linear dynamics of power. I do this by centring the narratives of those living and working in the waterway. Through providing needed attention to the everyday and micro-level interactions, this approach makes room for situated ambiguities within wider power dynamics. The argument is based on qualitative research along one primary waterway in Accra, along which people live, farm, dump waste and manage flood risk. These diverse practices suggest that, in addition to distributing risks in an often uneven fashion, the waterway also affords connection, solidarity and adaptability across urban divides. I argue that accounting for these practices does not deny the inequalities of the waterway's geography; rather, it encourages the development of a vocabulary to understand situated processes, even where they appear ambiguous. Embracing the ambiguities of the waterway allows us to fully consider the complex forms that power takes in different settings.