African Export-Import Bank (Afreximbank) has signed a collaboration agreement with Africa Finance Corporation (AFC) to facilitate and support the manufacture of vaccines on the continent.
In terms of the agreement, the two parties will identify and engage partners, and co-finance vaccine manufacturing projects in Africa. They will provide preparatory support to project developers and promoters whilst stepping up policy and advocacy efforts to unlock major market barriers.
These cross-cutting barriers include border clearance, road and freight logistics, cold chain, warehousing and access to market.
A key outcome, said Prof Benedict Oramah, president of Afreximbank, would be establishing African self-reliance for the sustainable, secure supply of routine vaccines for the continent’s population, as well as improving its capacity to respond to epidemic outbreaks such as Covid-19.
“Vaccine manufacturing in Africa has become a matter of utmost importance in ensuring that the continent has timely access to critical vaccines at a time when global manufacturers are compelled to prioritise their home markets as well as their commercial success where their pricing and delivery models favour richer countries.”
According to Orama, Africa is an importer of 95% of the vaccines it currently consumes. He said the ability to manufacture these on the continent would help foreign exchange, creating employment and fostering the transfer of technology.
