Economy
THE African Development Bank (AfDB) Group has introduced its new foundation hosted by the Government of Rwanda in Kigali and expected to commence operations in early 2023.
In a statement issued by the Communication and External Relations Department, AfDB, the African Pharmaceutical Technology Foundation (APTF), unveiled by the AfDB, would help Africa build its pharmaceutical sector.
The bank would join hands with the African Union to boost Africa’s capacity to produce drugs, vaccines, diagnostics, and therapeutics.
According to the statement, this was the focus of a forum hosted by the bank under the theme “Technology Access for Pharmaceutical Manufacturing: The African Pharmaceutical Technology Foundation”.
The event was part of the second International Conference on Public Health in Africa in Kigali, Rwanda, on Dec. 14.
According to the AfDB, the continent imports more than 70 per cent of the medicines it needs at the cost of 14 billion dollars annually.
Dr Yvan Butera, Rwandan Minister of State for Health said: “This new initiative comes as a solution, since most [African] countries still face challenges in receiving [medicines] on time.”
In his opening remarks, Mr Solomon Quaynor, Vice-President for Private Sector, Infrastructure and Industrialisation, AfDB said Covid-19 had exposed the gaps in Africa’s health care system.
“The Covid-19 pandemic has exposed the fragility of global health systems and the gaps in the production of critical drugs on the continent.
“The APTF is a ground-breaking institution that will significantly enhance Africa’s access to technologies that underpin the manufacturing of pharmaceutical products.”
Presenting the APTF at the event, Prof. Padmashree Sampath said the foundation was designed to help African countries bridge the technology gaps in sustainable domestic manufacturing.
Sampath is the Special Adviser on Pharmaceuticals and Health Infrastructure to Dr Akinwumi Adesina, President, AfDB Group.
“Pharmaceutical companies in Africa have three specific impediments to technology access: access to technology and related know-how for production, mobilisation of domestic resources for technological upgrading, and the lack of possibilities for horizontal and vertical product diversification.
“Many technological risks need to be indemnified to build Africa’s pharmaceutical sector, including shifting away from a product-by-product approach which puts African companies at risk.”
Also, Dr Precious Matsoso, co-chair of the International Negotiating Body of the World Health Organisation (WHO) on Pandemic Prevention, Preparedness and Response, spoke on how important technology issues were for future pandemic preparation.
Matsoso said establishing the African Pharmaceutical Technology Foundation “would provide the much-needed support to address technology barriers for equitable access”.
Furthermore, Dr Richard Hatchett, Chief Executive Officer of the Coalition of Epidemic Preparedness Initiative, described the establishment of the foundation as “timely”.
Hatchett said the initiative “will help in saving lives on the continent”.
The foundation, approved by the AfDB’s Board of Directors in June 2022, is expected to boost Africa’s access to technology for manufacturing the full range of pharmaceutical products.
It would focus on building supply chains and expanding access to building block technologies of various kinds.
The foundation would also serve as a transparent intermediator, advancing and brokering the interests of the African pharmaceutical sector on the global stage.
This would enhance access to proprietary technologies, know-how, and related industrial processes, through licensing and other market-based and non-market mechanisms.
The WHO, the Coalition on Epidemic Preparedness, the South Centre, Geneva, and the Federal Ministry for Economic Cooperation and Development of Germany have expressed keen interest in working with the foundation in 2023. (NAN)
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Tags: AfDB
