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South African vaccine manufacturer Biovac has secured a $20 million loan from Proparco, France’s development finance institution, to expand its local vaccine manufacturing capacity.
The investment is the latest in a series of investments from a growing consortium of global development financiers that has now collectively mobilised $128 million for Biovac’s vaccine manufacturing project. The company is on track to reach the target of $180 million being mobilised for the expansion of its multi-vaccine manufacturing capacity.
The deal was announced on the sidelines of the Africa Forward Summit, jointly organised by France and Kenya in Nairobi. The broader consortium also includes the European Investment Bank through its Human Development Accelerator, and the International Finance Corporation, with further support from Africa-based development finance institutions.
Africa’s Centres for Disease Control and Prevention (Africa CDC), which has welcomed this major investment collaboration between Biovac and Proparco, notes that the EIB and Proparo’s investments together represent half of the total funding, made possible through European Commission financial guarantees.
“This is a defining moment as the continent accelerates efforts to build sustainable vaccine manufacturing capacity and move toward a future where Africa produces and procures more of its own health products as a central pillar of its Health Security and Sovereignty Agenda,” said Dr Jean Kaseya, Director General of Africa CDC.
The $180 million mobilised by the consortium will support the expansion of a multi-vaccine manufacturing facility and will cover technology transfer, production scale-up, and working capital. Proparco’s investment announced on 11 May 2026 is further backed by the European Union through the EDFI Transforming Global Value Chains programme under EFSD+, the financing instrument of the EU’s Global Gateway initiative.
Biovac will use the new financing to support the construction and commissioning of a new facility for manufacturing essential vaccines, including those targeting polio, meningitis, pneumonia, and cholera. The production of a cholera vaccine will position Biovac as the first end-to-end multi-vaccine manufacturer on the African continent.
The vaccines produced will primarily reach beneficiaries through UNICEF and Gavi distribution channels, targeting the most vulnerable populations. French pharmaceutical giant Sanofi will provide technical support and share its industrial expertise in polio vaccine manufacturing.
Dr Morena Makhoana, CEO of Biovac, said, “We are extremely proud to partner with Proparco in our quest to expand our vaccine manufacturing capability. This unwavering support, particularly on a continent that still produces 1% of its own vaccine is key in ensuring that Biovac contributes in making demonstrable and long lasting change and to ensure self sufficiency in vaccine production in Africa.
“The new facility will ensure not only reliable supply of life-saving vaccines for Africa but will also allow additional skills capability, technology transfer and drive vaccine innovation that will benefit generations to come.”
“Proparco is proud, on behalf of France, to support Biovac in its pan-African development. Expanding vaccine production capacity on the continent is essential to improve immunisation and strengthen the resilience of populations, particularly the most vulnerable. The project will also reduce dependence on imports, foster innovation and create skilled jobs. Biovac is well positioned to achieve this ambition for the benefit of millions of Africans,” said Françoise Lombard, CEO of Proparco.
In addition to congratulating Biovac and Proparco on this landmark deal, Africa CDC also recognised the catalytic role of Gavi, the Vaccine Alliance, and the African Vaccine Manufacturing Accelerator in helping unlock this opportunity and enabling a viable pathway for locally manufactured vaccines to reach the market.
Africa CDC further adds that it remains committed to working with partners to ensure sustainable demand, accelerate market uptake, and support the long-term success of African vaccine manufacturers, all in service of the African Union’s goal of producing 60% of the continent’s vaccines locally by 2040.
