Public Management

Senegal: IFC, IPD ink $222 mln vaccine factory construction deal

Senegal: IFC, IPD ink $222 mln vaccine factory construction deal
Friday, 25 March 2022 15:59

Currently, 99% of the vaccines used in Africa are imported, according to the World Bank.  African leaders are moving to reduce that proportion by a minimum of 60% over the next 20 years. In that regard, they are turning to partners to set up vaccine factories.

The Pasteur Institute of Dakar (IPD) and the African Finance Corporation (IFC) will partner for the construction of a vaccine factory in Senegal.  The information was disclosed last Wednesday in a press release published on the IFC’s website.

The US$222 million infrastructure is intended to boost "the IPD's vaccine manufacturing capacity." In the short term, it will produce Covid-19 vaccines but, in the medium-term, it will start producing other vaccines, the press release stresses.  In the long-term, the plant will be able to produce 300 million doses of vaccines -both for Covid-19 and other diseases- destined for African countries. 

"The pandemic has taught us how risky it is to depend on the rest of the world for the supply of essential goods and services. The IFC is committed to helping African countries build their production capacity, especially when it comes to vaccines," said Makhtar Diop, IFC’s Managing Director. 

The African Center for Disease Control and Prevention (Africa CDC) estimates that only 15.3% of Africans are fully vaccinated against covid-19, while more than 65% of the available stock has already been used. This situation illustrates the high vaccine need on the continent. To address that situation, countries are taking measures, including partnerships with laboratories, to produce vaccines locally. 

In January, Morocco launched the construction of a pan-African vaccine factory that will be able to produce 16 million vaccines annually by 2024. Three months earlier, pharmaceutical firm BioNTech signed an agreement with Senegal and Rwanda to set up its vaccine factories on their national territories.  

In mid-2022, BioNTech will start delivering vaccine manufacturing facilities to Senegal, Rwanda, and South Africa. Moderna has also announced the construction of a vaccine manufacturing facility in Kenya. 

All these initiatives are expected to move the continent closer to Africa CDC’s goal, which is to produce 60% of the vaccines used in the continent locally by 2040. 

As a reminder, on Friday, February 18, the World Health Organization (WHO) announced that Egypt, Kenya, Nigeria, Senegal, South Africa, and Tunisia will be the recipients of messenger RNA vaccine hubs.

Jean-Marc Gogbeu

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Flutterwave acquired Nigerian open banking startup Mono in an all-share deal valued between $25 million and $40 million. The acquisition...
African billionaires increased their combined net worth by $21.9 billion in 2025. Nigerian businessman Abdul Samad Rabiu posted the largest...
Kenya Pipeline Company will list on the Nairobi Securities Exchange by the end of January 2026. The IPO targets local and foreign investors as part of...
The Bank of Ghana plans to sell up to $1 billion on the FX market in January 2026. The central bank aims to limit exchange-rate volatility...
Most Read
01

The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...

AES Launches Confederal Investment Bank: A Strategic Pivot Toward Sahelian Financial Sovereignty
02

Togo passes new law tightening anti-money laundering and terrorism financing rules Legislat...

Togo Overhauls Anti-Money Laundering Rules to Meet Global Standards
03

Nigeria confirms tax reform takes effect Jan. 1, 2026 despite opposition PDP alleges illegal inse...

Nigeria’s Tax Overhaul Set to Take Effect Amid Fury Over ‘Illegal’ Changes
04

Gabon names Thierry Minko economy and finance minister in Jan. 1 reshuffle Move follows tra...

Gabon Appoints Thierry Minko Economy Minister in Post-Transition Reshuffle
05

Creditinfo licensed to operate credit bureau across six CEMAC countries Bureau to collect b...

CEMAC Bloc Clears Way for Private Credit Bureau: New Implications for Regional Lending
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.