International Funding Boosts Biovac’s Ambitious Plan For End To End Vaccine Manufacturing In Africa

The logo of South African vaccine manufacturer and storage company Biovac is seen outside its offices in Cape Town. Image credit: Reuters/Mike Hutchings

Africa's vaccine manufacturing

The European Investment Bank (EIB) Group, the European Commission and the International Finance Corporation (IFC) have teamed up to support Cape Town-based vaccine manufacturer Biovac’s development of Africa’s first end-to-end multi-vaccine manufacturing facility.

The project will expand Africa’s vaccine manufacturing capacity, support equitable access to essential immunisations and strengthen preparedness for future pandemics.

EIB Group’s €75m quasi‑equity investment enabled the investment.

A financing package led by IFC, the mandated lead arranger, also supports the financing package, which includes a $20m senior loan, with further mobilisation underway.

Around 50% of the manufacturing equipment for the new facility will come from European suppliers, underscoring the strong industrial partnership between Europe and Africa and ensuring mutual economic benefits while meeting the highest technical and quality standards.

The facility, expected to be completed by 2028, will initially produce the oral cholera vaccine and later expand to include vaccines for polio (IPV), pneumonia (PCV) and meningitis (MenX).

Job creation

Once operational, it will have the capacity to manufacture up to 30–40 million oral cholera vaccine doses annually, addressing about 40% of the global cholera vaccine supply gap and supplying regional markets through procurement channels such as Unicef and Gavi, the Vaccine Alliance.

This expansion will create over 340 skilled jobs and 7,000 indirect jobs, fostering technology transfer and innovation, and bolstering Africa’s long-term health resilience.

The project directly supports the African Union’s Vision 2040 goal of achieving 60% local vaccine production and advances several United Nations (UN) Sustainable Development Goals (SDGs).

The investment also aligns with the African Vaccine Manufacturing Accelerator (AVMA) initiative, with a contribution of €611m contribution from Team Europe and global health partners to accelerate vaccine production capacity on the continent.