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Africa’s huge potential in the medical field illustrated through 4 figures

By Jeune Afrique
Posted on Tuesday, 9 November 2021 13:28

Aspen Pharmacare, Africa's largest pharmaceutical company, has unveiled a production line for general anaesthetics at its flagship plant in Gqeberha, Eastern Cape. © aspenpharma

The pandemic has highlighted Africa's dependence on foreign countries, as 90% of its medicines are imported. This leaves room to develop the continent’s local pharmaceutical industry.

As only 4.4% of the continent’s population is fully vaccinated against Covid-19, African governments, supported by local businesses and health activists, are stressing the need to develop local drug production.

Given the current situation, this opens up multi-billion dollar investment opportunities for the pharmaceutical industry. The proof is in four figures:

1. 5.9% growth per year