South Africa’s (SA) vaccine manufacturer, Biovac, has secured a $110 million financing package to build Africa’s first fully integrated multi-vaccine manufacturing facility in Cape Town.
The funding, backed by the International Finance Corporation (IFC), the European Commission and the European Investment Bank (EIB), is expected to significantly boost vaccine production capacity on the continent.
The project is aimed at reducing Africa’s reliance on imported vaccines, while strengthening preparedness for future pandemics and improving access to life-saving immunisations.
It is also expected to create more than 340 skilled jobs and around 7 000 indirect employment opportunities as the facility expands.
Biovac Chief Executive Officer Morena Makhoana says the funding marks a major milestone in the company’s growth plans.
“The significance of today is that we have secured €75 million ($88 million) from the EIB and an additional $20 million from the IFC. This puts us at about 60% to 70% of our fundraising target, with the balance expected to be concluded before June 2026,” he said.
Makhoana added that the new facility will dramatically increase production capacity, with output expected to quadruple from current levels of around 15 million vials per year.
He said much of the expanded capacity will be directed towards export markets, while still supplying the domestic market more efficiently using modern technology.
–ChannelAfrica–
