EU, RDB partner to boost vaccine manufacturing capacity in Rwanda
The European Union and the Rwanda Development Board have entered a deal worth R3.6 billion Rwandan francs in order to boost vaccine manufacturing capacity in that country. Clare Akamanzi, CEO of the Rwanda Development Board joins CNBC Africa for more.
Thu, 01 Jul 2021 12:10:01 GMT
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AI Generated Summary
- Rwanda secures a significant investment of 3.6 billion Rwandan francs from the European Union to bolster its vaccine manufacturing capabilities
- The collaboration forms part of the Panapakan initiative, aimed at enhancing vaccine and pharmaceutical production capacities across Africa
- The urgent need to reduce Africa's reliance on imports for vaccines is highlighted, with only 1% of vaccines consumed on the continent currently being produced domestically
The Rwanda Development Board (RDB) has partnered with the European Union in a groundbreaking agreement aimed at bolstering vaccine manufacturing capacity in Rwanda. The substantial investment of 3.6 billion Rwandan francs, equivalent to 3 million euros, is set to propel Rwanda's ambitions of becoming a vital hub for vaccine and pharmaceutical production within the African continent. This significant partnership is part of the broader Panapakan initiative, spearheaded by the CDC, to enhance manufacturing capabilities for vaccines and pharmaceuticals across Africa. Rwanda, alongside Senegal and South Africa, has been identified as one of the key hubs for this crucial endeavor. The collaboration with the EU signifies a pivotal step in the intricate process of developing vaccine manufacturing capabilities in Africa. The funding will play a crucial role in revitalizing and reinforcing Rwanda's food and drug authority. Additionally, the investment will support the acquisition of cutting-edge laboratory equipment to modernize and enhance the country's lab capacity. This modernization is integral in obtaining the World Health Organization (WHO) certification and instilling trust in investors looking to engage in vaccine production. Claire Akamanzi, the CEO of RDB, highlighted the urgency of building these capabilities on the continent, emphasizing that the current reliance on imports for vaccines leaves Africa vulnerable and lagging behind in accessing crucial supplies, particularly evident during the COVID-19 pandemic. Presently, only 1% of the vaccines consumed in Africa are manufactured on the continent, underlining the critical need to bolster local manufacturing resources. Akamanzi expressed gratitude to the European Union for its unwavering commitment to partnering in this transformational journey. The collaboration extends to entities such as the European Investment Bank and the International Finance Corporation (IFC) to secure the necessary financing for this ambitious project. The roadmap ahead entails engaging with private sector partners, regulatory bodies, and potential tech transfer agreements to advance the development of regulatory capacity and facilitate investor confidence. Akamanzi emphasized the importance of prioritizing the establishment of robust regulatory frameworks and building trust with investors to drive the successful implementation of domestic manufacturing capabilities.