Investment in African health-tech start-ups reached $103m in 2020, almost four times the 2019 level, while biotech investment also climbed, according to the 2021 Africa Risk Reward Index published this week by Control Risks and Oxford Economics Africa.
Developing capacity in Africa would likely make vaccines cheaper due to reduced import tariffs, taxes and transport costs, the report says. “The longevity of the Covid-19 crisis will sustain momentum in the health-tech and biotech sectors, but the benefits of the solutions developed will persist for much longer.”
The African Union and the Africa Centres for Disease Control and Prevention (Africa CDC) aim to have 60% of the continent’s routine vaccines produced locally by 2040, with Rwanda, Senegal and South Africa identified as potential regional hubs. The continent can benefit from the impetus to develop vaccines for [other] illnesses
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