Afreximbank and Africa CDC Partner to Launch $2 Billion Health Security Investment Plan

The Africa Health Security Investment Plan marks a critical step in addressing Africa's health investment challenges while fortifying economic development and health security across the region.

Afreximbank and the Africa Centers for Diseases Control and Prevention (Africa CDC) have unveiled a transformative partnership with the announcement of a new cooperation agreement during the Global Forum for Vaccine Sovereignty and Innovation in Paris, France. The agreement outlines Afreximbank's commitment of a substantial US$ 2 billion facility towards the "Africa Health Security Investment Plan." This initiative is designed to bolster the continent's health product manufacturing capabilities, focusing on initiatives such as the African Pooled Procurement Mechanism (APPM) and the Platform for Harmonized African Health Products Manufacturing (PHAHM).

The Africa Health Security Investment Plan marks a critical step in addressing Africa's health investment challenges while fortifying economic development and health security across the region. It aims to complement GAVI's African Vaccine Manufacturing Accelerator (AVMA), which also pledges up to USD 2 billion in financing over the next decade to support African health and pharmaceutical product manufacturers.

African pharmaceutical companies, essential for advancing the region's health sector, face significant hurdles amidst global health, security, and economic challenges. Issues such as low investor confidence, inadequate infrastructure, trade barriers, and regulatory complexities hinder investments. The new initiative seeks to overcome these barriers through coordinated continental efforts, aligned with the principles of the New Public Health Order.

Prof. Benedict Oramah, President and Chairman of Afreximbank, emphasized the significance of the partnership, stating, "We are delighted to contribute to this landmark initiative that promises to enhance health security across Africa. Through our extensive financial tools and interventions, including equity investments via our subsidiary FEDA, we aim to strengthen the manufacturing capacity of health and pharmaceutical products on the continent."

H.E. Dr. Jean Kaseya, Director General of Africa CDC, highlighted the pivotal role of today's announcement in advancing African health manufacturing capabilities. "Today marks a pivotal moment for vaccine and health product manufacturing in Africa. Investing in our ability to achieve self-reliance in health countermeasures is essential for safeguarding Africa’s health," he affirmed.

The Africa Health Security Investment Plan will enable Afreximbank to finance crucial health projects identified by Africa CDC, leveraging a combination of institutional and financial resources. It encompasses equity and debt financing, guarantees, venture capital, capacity building, and risk-sharing mechanisms to attract more investments into Africa's health sector.

Built on three foundational pillars, the plan includes Technical Assistance and Advisory Services to streamline project preparation, a robust Investment Project Pipeline to foster transparency and accessibility, and Regulatory and Normative Support to create an enabling environment for trade and investment.

In conclusion, the Africa Health Security Investment Plan represents a strategic initiative to tackle Africa's health investment challenges comprehensively. It underscores the commitment of Afreximbank and Africa CDC to foster sustainable economic growth, strengthen health resilience, and promote self-reliance in health security across the continent.

For more details on this transformative initiative, visit Afreximbank’s official website or follow updates from Africa CDC.