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IFC and development groups to help fund vaccine production in Africa

By Reuters Staff 2 Min Read FILE PHOTO: A woman holds a small bottle labelled with a Coronavirus COVID-19 Vaccine sticker and a medical syringe in this illustration taken October 30, 2020. REUTERS/Dado Ruvic/File Photo (Reuters) - Global development groups including International Finance Corp (IFC) said they will explore helping African producers such as Aspen Pharmacare Holdings Ltd boost vaccine manufacturing in Africa, which received relatively few COVID-19 immunizations produced by rich nations. The news comes after the European Union last week promised 1 billion euros ($1.22 billion) to build vaccination manufacturing hubs in Africa. France’s President Emmanuel Macron also promised on Friday to help the continent produce more vaccines locally.

Billionaire s year at home gives impetus to Africa vaccine plan

MONEYWEB app instead? Billionaire’s year at home gives impetus to Africa vaccine plan It’s given him the time to plot a way to help Africa produce its own vaccines. By Janice Kew and Antony Sguazzin, Bloomberg 21 May 2021  14:38  Patrick Soon-Shiong, chief executive officer of NantKwest Inc. Image: Bloomberg US biotech billionaire Patrick Soon-Shiong has spent the last year at home, but he’s not been idle. It’s given him the time to plot a way to help Africa produce its own vaccines. ImmuntyBio Inc., in which he is a part owner, has signed a deal with The BioVac Institute, a state-backed South African vaccine company, to manufacture coronavirus doses from scratch in the country. He’s also giving an initial R3 billion ($214 million) to the nation of his birth to help pass on technology for Covid-19 shots and other therapies that can be exported around the continent.

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