In a significant stride towards bolstering Africa’s pharmaceutical industry, the African Pharmaceutical Technology Foundation has commenced operations, following the signing of a host country agreement with the Rwandan Government. The agreement signifies a crucial step in the operationalization of the Foundation, which aims to foster collaboration between public and private sectors globally.
Backed by robust technical and financial support, the Foundation, approved by the African Development Bank Group’s Board of Directors in June 2022, is uniquely positioned to play a pivotal role in advancing Africa’s pharmaceutical sector. It stands out as the first initiative fostering collaboration across Africa, North America, Europe, and other developing regions.
The Rwandan government’s pivotal role in anchoring the Foundation, coupled with its recognition as an international agency, was underscored during the host country agreement signing ceremony in Kigali. Dr. Vincent Biruta, Rwanda’s Minister for Foreign Affairs and International Cooperation, emphasized the importance of bridging the vaccine equity gap between African countries and more developed nations. He highlighted the crucial role of the new African Pharmaceutical Technology Foundation in facilitating rapid access to the latest pharmaceutical breakthroughs.
A memorandum of understanding was also inked between the Foundation and the European Investment Bank, further fortifying cooperation in addressing market failures and mobilizing pharmaceutical investments across Africa. The collaboration aims to utilize their collective influence to attract multilateral public and private financing into pharmaceutical production on the continent.
Akinwumi Adesina, President of the African Development Bank Group, expressed confidence in the Foundation’s potential to contribute to Africa’s health defense system. He stressed the transformative role of technology in developing a competitive pharmaceutical industry, outlining the African Development Bank’s commitment to invest up to $3 billion over the next decade to support the industry’s development.
Professor Padmashree Gehl Sampath, interim Chief Executive Officer of the African Pharmaceutical Technology Foundation, affirmed the Foundation’s readiness to commence operations in January 2024. She emphasized the need to enhance Africa’s pharmaceutical industry maturity by fostering partnerships between local and international entities.
Germany, a steadfast supporter of the Foundation, echoed its commitment to serving on the Board of Directors. Dr. Bärbel Kofler, Parliamentary State Secretary in Germany’s Federal Ministry for Economic Cooperation and Development, highlighted the government’s dedication to supporting the Foundation’s goals.
Global partners, including the World Health Organization and the World Trade Organization, have lauded the Foundation’s creation. Dr. Tedros Adhanom Ghebreyesus, Director-General of the World Health Organization, emphasized the importance of increasing access to safe and effective medicines for Africa. Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization, pledged support for the Foundation’s transformative potential in Africa’s pharmaceutical industry.
The collaboration with the European Investment Bank further enhances the Foundation’s efforts, with a focus on a regional biosimilars program and the creation of active pharmaceutical ingredients parks in specific sub-regions of Africa.
Gelsomina Vigliotti, Vice President at the European Investment Bank, expressed commitment to strengthening public health and health innovation across Africa. The European Investment Bank aims to support the African Pharmaceutical Technology Foundation in scaling up pharmaceutical investment and innovation on the continent.
For more details on the African Development Bank Group President’s remarks, click here.
