African Development Bank Group (AfDB)
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    • The Foundation will strengthen bilateral initiatives for local manufacture of pharmaceuticals, such as the recent partnership between BioNTech and Senegal’s Pasteur Institute to produce vaccines against Covid-19. Picture: Akinwumi Adesina visiting Senegal’s Institut Pasteur, January 2022.
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Source: African Development Bank Group (AfDB) |

African Development Bank’s Board approves landmark institution: Establishment of African Pharmaceutical Technology Foundation to transform Africa’s pharmaceutical industry

“Africa can no longer outsource its healthcare security to the benevolence of others” – Akinwumi Adesina

The African Development Bank’s (www.AfDB.org) Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new groundbreaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products. African Development Bank Group President, Dr. Akinwumi Adesina…

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    • African Development Bank Group signs Memorandum of Understanding with ECOWAS for $3.56 million grant to develop West Africa pharmaceutical industry
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Source: African Development Bank Group (AfDB) |

African Development Bank Group signs Memorandum of Understanding with ECOWAS for $3.56 million grant to develop West Africa Pharmaceutical Industry

The project's total cost is $3.77 million, to which the ECOWAS Commission will provide $200,000 in cash and $400,000 in-kind

The African Development Bank (www.AfDB.org) and the Commission of the Economic Community of West African States (ECOWAS) have signed a memorandum of understanding for $3.56 million in grant funding to support the development of pharmaceutical industries in West Africa. Lamin Barrow, Managing Director of the Bank for Nigeria and Mamadou…

Source: African Development Bank Group (AfDB) |

Biovac and Development Partners Collaborate to Support South Africa’s Vaccine Manufacturing Expansion and Advance Long-Term Health Security Across Africa

Biovac to raise around $150 million (ZAR2.3 billion) to boost increased local vaccine manufacturing capacity across the African continent

Consortium of nine development partners to support Biovac’s expansion of its existing vaccine manufacturing plant capacity, and enable the production of Pfizer-BioNTech’s COVID-19 vaccine and other vaccines; Biovac to raise around $150 million (ZAR2.3 billion) to boost increased local vaccine manufacturing capacity across the African continent; Partners include AfDB (www.AfDB.org),…

Source: African Development Bank Group (AfDB) |

Africa Investment Forum: Projects worth $140 million on the table to boost vaccines and healthcare in West and East Africa

After the presentations, a panel of investors provided their insight on investing in Africa’s healthcare sector

Members of the Africa Investment Forum team showcased two projects during a virtual investor roundtable as the continent looks to boost its healthcare sector and attract much-needed investment in the wake of the Covid-19 pandemic. The projects, jointly worth around $140 million and located in East and West Africa, were…

Source: African Development Bank Group (AfDB) |

UN GA 2021: Africa cannot outsource its health to the rest of the world, African Development Bank head says during panel on closing the health gap

The 76th General Assembly of the UN takes place this year against the Covid-19 pandemic, which has hit African economies badly, despite the overall lower death toll on the continent

Global leaders, in a sideline event on health during the United Nations General Assembly, voiced the urgent need to scale up Covid-19 vaccine production and access in the wake of a pandemic that has caused unprecedented economic loss and bankrupted health care systems in Africa. The Future Investment Initiative Institute…

Source: African Development Bank Group (AfDB) |

African Union holds global conference to accelerate African vaccine development and manufacturing capacity

The meeting was attended by several African heads of state, health, finance and trade ministers from across the continent

African leaders assembled at a global meeting to discuss the status of local pharmaceutical manufacturing on the continent, underscored the need to increase local production of vaccines and therapeutics to achieve greater public-health security. “The production of vaccines and access to vaccines is an absolute priority,” Cyril Ramaphosa, President of…

Source: African Development Bank Group (AfDB) |

African Development Bank President calls for Global Vaccine Solidarity and Justice for Africa

Acquiring vaccines has significant implications for African countries

African Development Bank (www.AfDB.org) President Dr. Akinwumi Adesina has called for vaccine justice for Africa. Speaking at the launch of the Bank’s African Economic Outlook 2021 report on Friday, Adesina decried the lack of Covid-19 vaccines reaching Africa. “We need global solidarity and vaccine justice for Africa,” Africa’s premier development…

Source: African Development Bank Group (AfDB) |

Post COVID-19: Rebuilding Africa and strengthening its resilience against future economic shocks (By Charles Leyeka Lufumpa)

By Charles Leyeka Lufumpa, Acting Chief Economist and Vice President for Economic Governance and Knowledge Management at the African Development Bank Group

After demonstrating its resilience during the Ebola outbreak and the global financial crisis, Africa is once again facing a severe test of its strength and agility because of the coronavirus pandemic. The good news is that the continent has entered this crisis in reasonably good shape following decades of progression…

Source: African Development Bank Group (AfDB) |

After COVID-19, will Africa Catch Up, Stand Still or Fall Further Behind? (By Professor Banji Oyelaran-Oyeyinka)

With this crisis comes an economic disruption of unprecedented proportion

At one time or another, nations and individuals confront crisis points – moments of existential challenge that also open up new possibilities. African countries, at just such a crisis point as a result of the novel coronavirus, face three possible outcomes post-pandemic: play catch-up, stand still or fall even further…

Source: African Development Bank Group (AfDB) |

African Development Bank commits $1.04 million towards two COVID-19 research projects in Angola

The Angolan Government intends to promote research and enhance capacity in the health sector, against the backdrop of the COVID-19 pandemic

Funds from the African Development Bank’s (www.AfDB.org) ongoing Science and Technology Development Project have been committed towards two research projects to mitigate the novel coronavirus (COVID-19) in Angola. The Science and Technology Development Project which is being executed by the Ministry of Higher Education, Science, Technology and Innovation, aims to…