Rockefeller Foundation on the private sector's role in closing the health inequality gap

Just 100 days after the Rockefeller Foundation committed $1 billion over three years to help drive a more inclusive and sustainable global recovery from the Covid-19 pandemic, the foundation has announced an initial $35 million to ensure equitable access to COVID-19 testing and vaccines in Africa. William Asiko, Managing Director and Head of The Rockefeller Foundation's Africa Regional Office, sat down with CNBC Africa to discuss the private sector's role in closing the health inequality gap caused by the pandemic. The COVID-19 pandemic has wreaked havoc on economies and health systems worldwide, exacerbating health inequalities and leaving many communities, particularly in Africa, struggling to recover. The private sector, often seen as the engine of growth, is set to play a crucial role in driving investments, creating jobs, and building sustainable supply chains for essential resources like food and clean energy. William Asiko emphasizes that the Rockefeller Foundation's $1 billion commitment aims to catalyze a quick, clean, and equitable recovery for all, particularly those who have been most impacted by the pandemic. The $35 million fund dedicated to enhancing COVID-19 testing and vaccine access in Africa will see the Rockefeller Foundation partnering with 24 organizations and businesses to achieve specific objectives. The foundation is establishing the pandemic action platform, which will bring together various stakeholders from the private sector, government, and policymakers to work towards ending the pandemic and ensuring equal access to essential healthcare services. The goal is to provide adequate testing, contact tracing, and equitable vaccine distribution to combat the spread of the virus globally. Beyond health, the pandemic has also led to a rise in food insecurity, with African countries particularly feeling the brunt of these challenges. The private sector holds significant opportunities to address food insecurity by investing in farming, agro-processing, and advancing technologies within the agriculture sector. Stable government policies, infrastructure investments, and philanthropic support from organizations like the Rockefeller Foundation are crucial in creating an enabling environment for private sector contributions to food security initiatives. By bridging gaps in investment readiness, providing technical assistance to small and medium-sized enterprises, and conducting market research, philanthropic capital can attract private sector investments in agricultural development. In addition to food security, addressing energy poverty is a key focus area for the Rockefeller Foundation's $1 billion commitment. Energy poverty, coupled with the impacts of climate change, presents significant challenges to poverty alleviation efforts globally. With 75% of individuals without access to clean energy residing in Africa, the continent is a central focus for the Foundation's energy initiatives. The foundation is working towards expanding access to distributed renewable energy through partnerships with the private sector and governments to ensure clean, sustainable energy solutions that mitigate the effects of climate change. William Asiko highlights the essential role of clean energy in lifting populations out of poverty and emphasizes the importance of aligning investments in energy infrastructure with climate-friendly practices. By leveraging philanthropic capital to make renewable energy projects commercially viable, the Rockefeller Foundation aims to accelerate the transition towards a cleaner, more sustainable energy future. The efforts to address energy poverty in Africa and globally are part of a holistic approach to building back better post-pandemic and fostering long-term resilience in vulnerable communities. The Rockefeller Foundation's initiatives underscore the critical role of the private sector in advancing equitable recovery, supporting health systems, addressing food insecurity, and promoting sustainable energy solutions to mitigate the impacts of the COVID-19 pandemic. By leveraging partnerships, philanthropic investments, and innovative approaches, the foundation aims to drive a more inclusive and sustainable recovery that leaves no one behind.