African Export-Import Bank (Afreximbank or the Bank) (www.Afreximbank.com) entered into a Cooperation Agreement with the Africa Centres for Disease Control and Prevention (Africa CDC) to leverage their strengths in boosting health systems across Africa and improving the livelihoods of African citizens. This milestone agreement underscores the commitment of both institutions to enhance regional vaccine research, development, and sustainable manufacturing capabilities.
The agreement will see Afreximbank and Africa CDC collaborate on various strategic initiatives, including the operationalization of the Africa Pooled Procurement Mechanism (APPM) in close cooperation with UNECA. They will develop and implement priority initiatives to advance Africa’s unique healthcare manufacturing sector and promote innovative financing mechanisms to support health research and development initiatives in African countries. Both institutions aim to leverage gains made in implementing the African Continental Free Trade Agreement (AfCFTA).
Recognizing the critical role of Africa CDC in ensuring African health security, Afreximbank will support Africa CDC in achieving financial sustainability. In line with the African Union’s ambition under the ‘New Public Health Order’ (http://apo-opa.co/3xmkL2I) to produce 60% of the continent’s vaccine needs in Africa by 2040, up from less than 1% today, with interim goals of 10% by 2025 and 30% by 2030; the expanded partnership will also focus on local manufacturing across all aspects, including financing, market shaping, technology transfers, and talent development.
Speaking at the signing ceremony, Prof. Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank, said: “Our collaboration with Africa CDC began with the arrival of the Covid-19 pandemic, and in a short span of time, we have achieved significant progress. Formalizing our collaboration is therefore a natural step to join forces towards the attainment of the socio-economic development of Africa.”
Commenting on the signing of the Agreement, Dr. Jean Kaseya, Director General of Africa CDC, said: “Ensuring Africa’s health security depends on our capacity to produce essential health products within our continent. Pillar 2 of the new public health order—Expanded Manufacturing of Vaccines, Diagnostics, and Therapeutics—emphasizes the importance of democratizing access to vital medicines and equipment.”