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
Move aims to boost housing finance and expand affordable housing supply Bank to support real estate sector amid 800,000-unit housing deficit The...
Financing targets renewable energy and climate adaptation investments Deal supports Africa’s low-carbon transition and infrastructure funding...
Inflation dropped to 3.2% in March 2026, down from 25.8% a year earlier, marking 15 consecutive months of decline The Ghana Reference Rate was...
(BIDC) - The ECOWAS Bank for Investment and Development (EBID) has approved USD 266.7 million and XOF 30 billion to support a portfolio of strategic...
Most Read
01

Operator explores renewable energy partnership with Italy’s Ascot Energy Move aims to stabilize p...

Ethio Telecom Turns to Green Power to Secure Network Expansion
02

A $147M Novastar Ventures fund backed by major Japanese firms offers co-investment rights int...

Mitsubishi, Toyota Buy Options on Africa's Next Startups
03

First investor town hall since 2021 signals renewed engagement with markets Authorities hi...

Ghana restarts investor engagement as macro recovery firms after default
04

Arise IIP plans to invest more than $3 billion in Kenya over five years The company wi...

Arise IIP Targets Kenya With $3 Billion Industrial Investment Drive
05

Efforts to reinforce health systems are gaining pace across Africa, with this week’s developments fo...

Weekly Health Update | ECOWAS Launches Health Reform; Africa Expands Emergency Capacity
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.