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AFRICAN DEVELOPMENT BANK GROUP’S POST
African Development Bank Group
478,002 followers
1y
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#Recap2022: African Development Bank’s Board of Directors approves establishment
of the African Pharmaceutical Technology Foundation, a new groundbreaking
institution that will significantly enhance Africa’s access to the technologies
that underpin the manufacture of medicines, vaccines, and other pharmaceutical
products. The decision is a major boost to the health prospects of a continent
that has been battered for decades by the burden of several diseases and
pandemics such as #Covid19, but with very limited capacity to produce its own
medicines and vaccines. Africa imports more than 70% of all the medicines it
needs, gulping $14 billion per year. “This is a great development for Africa.
Africa must have a health defense system, which must include three major areas:
revamping Africa’s pharmaceutical industry, building Africa’s vaccine
manufacturing capacity, and building Africa’s quality healthcare
infrastructure,” said Dr. Akinwumi Adesina, African Development Bank Group
President. When fully established, the Foundation will be staffed with
world-class experts on pharmaceutical innovation and development, intellectual
property rights, and health policy; acting as a transparent intermediator
advancing and brokering the interests of the African pharmaceutical sector with
global and other Southern pharmaceutical companies to share IP-protected
technologies, know-how and patented processes. #vaccineequity
#ImproveQualityOfLife More: https://bit.ly/3NjmYO9
*
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Maurice James Goddard BA (Hons) MA FCMA CGMA FCPA CFIIA
Auditor General / Auditeur Général (Chief Audit Executive) African Development
Bank Group / Groupe de la Banque Africaine de Développement
1y
* Report this comment
Building capability in this area is a noble mission and shows the Bank has
absorbed and is acting as a catalyst to actualize one of the lessons of the
Covid-19 Pandemic. Developing this capability is an important component of a
more resilient and self supporting health ecosystem for the Continent in the
future. Prior to joining the Bank, I worked for a global pharmaceutical company
and know how valuable this capability and capacity is for communities to possess
and harness.
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Joyce Wamwea
Sr. Clinical Study Associate
1y
* Report this comment
Do drive funding to startups in the biopharmaceutical industry in Africa instead
of funding governments for decades with infrastructure programs. Not sure how
funding a foundation can translate to R&D and robust clinical research and
medicine autonomy in Africa.
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MUMBI KIEREINI
Independent Consultant - Private Sector Development
1y
* Report this comment
A timely initiative!
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