Afreximbank says that if the supply of Covid-19 vaccines is left to the market, developing countries, including those in Africa, will be left out.
Nairobi — Africa needs about $9bn to finance enough Covid-19 vaccines to halt the pandemic on the continent, but a bigger problem is accessing that supply amid the global race for doses, an Afreximbank official said on Wednesday.
Hippolyte Fofack, Afreximbank chief economist, said the Cairo-based bank and other development finance institutions are working with the Africa Centres for Disease Control and Prevention (CDC) to obtain vaccines for the coronavirus.
But African nations cannot compete with wealthier governments that have secured huge supplies of inoculations, he said.
“If the supply of Covid-19 vaccines is left to [the] market, many developing countries will be essentially rationed out of it, Africa included,” he said. “The key constraint is the supply of vaccines. Even if Africa had $100bn, we would not be able to access enough doses.”
He said African countries will need to ask wealthy governments for excess vaccines.
Afreximbank estimates that Africa will need to spend about $5.8bn on purchasing vaccines and about $3.3bn to deliver them to reach the target of vaccinating at least 60% of 1.3-billion Africans starting in 2021.
Some funding will come from Covax, a global alliance co-led by the World Health Organisation (WHO) that aims to secure fair access to Covid-19 vaccines for poor countries.
Covax said last week it had agreements in place for nearly 2-billion doses, with the first deliveries due in early 2021, but it is unclear how many of those would go to African countries.
SA said earlier this month it expects to receive its first batch of vaccines from Covax in the second quarter of 2021.
Fofack said he hopes that vaccinations will begin on the continent in the second quarter of 2021.
Article written by: Omar Mohammed
Photo credit: 123RF/SERGEY CHAYKO