The Board of Directors of the African Development Fund has greenlit an $11.96 million grant to accelerate the establishment of the African Pharmaceutical Technology Foundation, headquartered in Kigali, Rwanda, to bolster the pharmaceutical sector across Africa.
Supported by the African Development Bank Group’s Regional Public Good window, alongside a $1.93 million contribution from the Rwandan government, the funding is reserved for the implementation of the Regional Pharmaceutical Sector Support Project in Rwanda.
Head of the African Development Bank’s (AfDB) Rwanda country office, Aissa Touré Sarr, believes the project will benefits Africa’s health industy. “The cutting-edge research and technological innovations of the African Pharmaceutical Technology Foundation should enhance healthcare outcomes by facilitating access to advanced medicines and treatments, addressing prevalent diseases, and bolstering the continent’s health resilience,” Touré Sarr stated.
The grant is expected to improve access to advanced pharmaceutical technologies and enhance the regulatory framework of the pharmaceutical industry across Africa. The foundation, approved by the African Development Bank Board of Directors in June 2022, formalised its presence in Rwanda through a host country agreement signed in December 2023.
In response to the challenges faced by African countries in accessing technology for local medicine and vaccine manufacturing, the foundation will serve as a transparent intermediary. It will facilitate negotiations with pharmaceutical multinationals and other nations in the global South to share technology, know-how, and intellectual property-protected patents.
Furthermore, the foundation will focus on capacity-building within African pharmaceuticals to ramp up local production. This includes fostering technological advancements, strengthening human and professional competencies, and promoting pharmaceutical and vaccine innovation.
The grant will be used to procure office equipment, recruit experts, and engage specialised technical firms to provide a range of health and pharmaceutical services. Additionally, it will support information dissemination, consultancy services, training in good manufacturing practices, and quality improvement initiatives.
The African Pharmaceutical Technology Foundation will collaborate closely with various stakeholders, including the African Union Medicines Agency, Africa CDC, European Union, World Health Organisation, World Trade Organisation, Medicines Patent Pool, philanthropic organisations, and bilateral and multilateral agencies.
As the first institution of its kind to engage with both public and private sectors across Africa, North America, Europe, and the developing world, the foundation has already secured partnerships with the European Investment Bank and substantial support from Germany.
Source: APO Group
By Derrick Kafui Deti – Digital Economy Magazine
