- €75 million EIB Group quasi‑equity plus a $20 million IFC senior loan will finance Biovac’s South African end‑to‑end multi‑vaccine manufacturing facility.
- Facility targeted for completion in 2028 will start with oral cholera vaccine and expand to IPV (polio), PCV (pneumonia) and MenX (meningitis) at 30–40 million doses/year capacity.
- About 50% of manufacturing equipment will be sourced from European suppliers to meet technical and quality standards.
- Project is expected to create over 340 skilled jobs and roughly 7,000 indirect jobs and to supply regional procurement channels such as UNICEF and Gavi.
Project overview
The EIB Group, the European Commission and the IFC are financing Biovac to build Africa’s first end‑to‑end multi‑vaccine manufacturing facility in South Africa to expand regional vaccine supply and preparedness. The plant will start with an oral cholera vaccine and later produce inactivated polio vaccine (IPV), pneumococcal conjugate vaccine (PCV) and meningitis X (MenX), with an annual capacity of 30–40 million doses and expected to address roughly 40% of the global cholera vaccine supply gap; products will be channelled to regional procurement mechanisms such as UNICEF and Gavi.
Financing and guarantees
Financing includes a €75 million EIB Group quasi‑equity instrument provided under the Human Development Accelerator (HDX) guarantee programme and a $20 million senior loan led by IFC as mandated arranger, with further mobilisation planned. The HDX support is backed by the European Commission’s EFSD+ guarantee and is part of the EU Global Gateway and Team Europe MAV+ efforts.
Timeline, sourcing and capacity building
The facility is targeted for completion by 2028; about 50% of manufacturing equipment is expected from European suppliers. The project is designed to enable technology transfer, local skills development and long‑term manufacturing capability on African soil.
Economic and policy impact
The investment is projected to create over 340 skilled jobs and around 7,000 indirect jobs, and it contributes to African Union Vision 2040 targets for local vaccine production and to UN SDGs on health, decent work, industry and partnerships; it also aligns with the African Vaccine Manufacturing Accelerator and related Team Europe funding initiatives.
Instruments and scope
EFSD+ provides guarantees for Global Gateway projects while HDX focuses on investments that strengthen health systems, supply chains, R&D, digitalisation, talent and manufacturing capacity for vaccines and health technologies.
