Talks underway with investors to make COVID vaccines in Africa -Kagame

PUBLISHED: Tue, 22 Jun 2021 07:41:41 GMT
Clement Uwiringiyimana
Reuters
Share
Rwandan President Paul Kagame
Photo via Flickr

Senegal, Rwanda and South Africa are in talks with investors to start the production of coronavirus vaccines in Africa, Rwandan President Paul Kagame said on Monday.

Africa was “trying to find partners, to start manufacturing vaccines on our continent,” Kagame said at the Qatar Economic Forum.

“We are discussing with people who will help with financing and I think in a few months we should hear a different story,” Kagame said, without offering details of how the venture will be financed.

The continent of 1.3 billion people has fully vaccinated only about 1% of its people against COVID-19 even as some wealthier countries have inoculated enough of their citizens to begin reopening their economies.

Sign Up for Our Newsletter Daily Update

Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.

Kagame on Monday suggested that a Eurobond was one option to help pay for the creation of vaccine manufacturers in Africa.

“Rwanda has been having a very good B+ credit rating. The Eurobond is one good option that will provide us with resources we are looking for,” he said.

(Reporting by Clement Uwiringiyimana; editing by Omar Mohammed and Grant McCool)

,