The South African biopharmaceutical company, Biovac, announced on Tuesday March 1, the raising of $150 million from 9 development banks to produce anti-covid-19 vaccines.

After having concluded an agreement in July 2021 for the manufacture and distribution of vaccines against covid-19 from the Pfizer and BioNTech laboratories, Biovac obtains the necessary funding to carry out this project. The financing aims to support the production capacity and expansion of Biovac's vaccines sector, and more generally the pharmaceutical industry on the continent. The partnership involves the production of 100 million doses of vaccines per year, which will be distributed in the 55 countries of the African Union. The South African should thus increase its local production to supply South Africa and the continent with essential vaccines, including that of covid-19.