Cairo, Egypt, 25 April 2025: – The private sector and financial institutions must collaborate to develop viable and scalable business models for local manufacturing of medicines and healthcare products, Mrs. Oluranti Doherty, Managing Director, Export Development, at the African Export-Import Bank (Afreximbank), told delegates at the Third World Local Production Forum (WLPF) in Abu Dhabi, United Arab Emirates.
Speaking on 7th April 2025 during a panel discussion on “Talking to the Bankers: Bankable Business Cases for Sustainable Local Production,” Ms. Doherty stated that financial institutions also needed to collaborate among themselves as part of this joint effort.
She noted that there were gaps between the expectations of funders and those of manufacturers and highlighted the need for solutions to be tailored to specific contexts in close dialogue with key manufactures, governments, and other stakeholders. She highlighted that to bridge these gaps, local manufacturers of health products in Africa needed to build resilient ecosystems to ensure that their projects were bankable.
Mrs. Doherty emphasized that the G7 multilateral development banks and financial institutions should work closely with their counterparts in the global south to develop and implement innovative financial solutions for strengthening the local manufacturing of health supplies.
“By pooling our resources, knowledge, and expertise, we can drive sustainable investment in critical health infrastructure and build resilient and responsive health systems, even in the most challenging environments. This collaboration is essential for achieving inclusive economic growth, reducing inequalities, and creating peaceful, prosperous futures for communities around the world. Together, we can transform aspirations into tangible outcomes, ensuring that no community is left behind in our pursuit to promote local manufacturing and preparedness for future pandemics,” Mrs. Doherty added.
Also participating in the panel discussion, which was moderated by Zeynep Kantur, Global Manager, Global Head of Health, International Finance Corporation, were Ghada Abuzaid, Principal Industrial and Pharmaceutical Program Coordinator at the African Development Bank, Dr. Saulo Simoni Nacif, Executive Director, Fundação Butantan, and Jae Kyoun Kim of the Asian Development Bank.
Organised from 7 to 9 April 2025 by the World Health Organization to enhance global access to medicines and health technologies through sustainable local production, the third WLPF brought together stakeholders in health and finance from around the world, including government representatives, industry leaders and experts. It sought to generate actionable recommendations and to foster partnerships to improve access to quality health products as well as to strengthen health systems.
Afreximbank used the platform to showcase its expertise and successes, particularly in supporting local production of vaccines and medicines in Africa, hoping to inspire other stakeholders to embrace sustainable practices and innovative financing models.
ENDS
About Afreximbank
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialisation and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank has set up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2024, Afreximbank’s total assets and contingencies stood at over US$40.1 billion, and its shareholder funds amounted to US$7.2 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (CCXI) (AAA), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact equity fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.
For more information, visit: www.afreximbank.com
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