Johannesburg: The European Investment Bank (EIB) Group, the European Commission, and the International Finance Corporation (IFC) have announced a landmark financing partnership to support Biovac in building Africa’s first end-to-end multi-vaccine manufacturing facility in South Africa. This initiative is focused on enhancing Africa’s health security, expanding vaccine manufacturing capacity on the continent, and improving access to essential immunisations.
According to South African Government News Agency, the project is backed by a £75 million quasi-equity investment from the EIB Group. This investment has also facilitated an additional $20 million senior loan through an IFC-led financing package, with further funding mobilisation underway. The investment is supported by a European Commission guarantee under the Human Development Accelerator programme, part of the European Union’s Global Gateway strategy. It contributes to the Team Europe initiative on Manufacturing and Access to Vaccines, Medicines and Health Technologies in Africa.
The new facility is scheduled for completion by 2028 and will initially manufacture oral cholera vaccines. It will later expand production to include vaccines for polio, pneumonia, and meningitis. Once operational, the site is expected to produce between 30 million and 40 million doses annually. Biovac Chief Executive Officer Morena Makhoana stated that the new facility would ensure a reliable vaccine supply for Africa while building skills, expanding technology transfer, and driving vaccine innovation.
The partners indicated that the plant could help close around 40% of the global cholera vaccine supply gap while supplying regional markets through procurement channels such as UNICEF and Gavi, the Vaccine Alliance. The project is also expected to create more than 340 skilled jobs and around 7,000 indirect jobs. It will promote technology transfer, innovation, and long-term health resilience across the continent.
EIB President Nadia Calvi±o mentioned that the project would help save lives by protecting millions of children from serious diseases and equipping African scientists and health workers to support their communities. European Commissioner for International Partnerships Jozef Skela described the investment as an example of the Global Gateway strategy in action, combining health sovereignty with economic development. IFC Regional Vice President for Africa Ethiopis Tafara emphasized that building local manufacturing capacity is both a development priority and a strategic investment in resilience.
This initiative also supports the African Union’s Vision 2040 target of achieving 60% local vaccine production and aligns with several United Nations Sustainable Development Goals, including health, economic growth, industry, and partnerships.
