Financing Boosts Vaccine Manufacturing Africa: New Facility to Enhance Local Production Capacity

In a major step forward for vaccine manufacturing Africa, Biovac has secured a financing package from the International Finance Corporation (IFC), the EIB Group, and the European Commission to build the continent’s first end-to-end multi-vaccine production facility.

Landmark Funding Unlocks Multi-Vaccine Hub

The package includes a $20 million senior loan from IFC, with additional mobilization planned, and a €75 million quasi-equity investment from the EIB Group under the Human Development Accelerator guarantee programme. Scheduled for completion in 2028, the Cape Town site will begin with oral cholera vaccine production before expanding to inactivated polio, pneumococcal conjugate, and meningococcal vaccines, delivering 30–40 million doses annually and covering roughly 40 percent of the global cholera vaccine shortfall.

Capacity Growth Fuels Regional Self-Reliance

This development strengthens vaccine manufacturing Africa by enabling supply through UNICEF and Gavi procurement channels, improving access to vaccines against cholera, polio, pneumonia, and meningitis. The project is expected to generate more than 340 skilled jobs and 7,000 indirect positions while supporting technology transfer and aligning with the African Union’s Vision 2040 target of 60 percent local vaccine production.

Blended Finance Powers Green Field Build

Coordinated multilateral instruments underpin the initiative, with IFC as mandated lead arranger and the EIB Group providing flexible capital backed by the European Commission and implemented with the Gates Foundation. The phased rollout integrates Biovac’s existing capabilities from prior partnerships, such as the Oral Cholera Vaccine programme with the International Vaccine Institute, enhancing long-term pandemic preparedness.