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The African Development Bank (AfDB)’s Board of Directors has approved the establishment of the African Pharmaceutical Technology Foundation, a new ground-breaking institution that will significantly enhance Africa’s access to the technologies that underpin the manufacture of medicines, vaccines, and other pharmaceutical products.

Africa has great potential for drug discovery. The continent has natural resources, indigenous knowledge, and human capacity

AfDB Group President, Dr. Akinwumi Adesina said: “This is a great development for Africa. Africa must have a health defence system, which must include three major areas: revamping Africa’s pharmaceutical industry, building Africa’s vaccine manufacturing capacity, and building Africa’s quality healthcare infrastructure.”

The World Trade Organization and the World Health Organization, respectively, also welcomed and lauded the AfDB’s decision to establish the African Pharmaceutical Technology Foundation.