President Mahama calls for greater investment in Africa’s pharmaceutical industry
By: Celestine Avi and Seth Eyiah President John Dramani Mahama has called for increased private-sector investment in Africa’s pharmaceutical industry to reduce the continent’s dependence on imported medicines and vaccines. He says building local manufacturing capacity will not only strengthen health security but also create jobs, protect foreign exchange and position Africa as a major […]
President John Dramani Mahama has urged for greater private-sector investment in Africa’s pharmaceutical industry to lessen the continent’s reliance on imported medicines and vaccines. He believes developing local manufacturing capabilities will enhance health security while generating employment, safeguarding foreign exchange and positioning Africa as a key player in the pharmaceutical market.
At the 8th African Union Mid-Year Summit in Egypt, Mahama pointed out that Africa imports over 70% of its pharmaceuticals and nearly 99% of its vaccines, leading to billions of dollars leaving African economies annually for these products. He also highlighted the opportunity presented by the African Continental Free Trade Area, which will provide a single market of 1.4 billion consumers for African-manufactured medicines and vaccines.
In addition to bolstering health security, Mahama argues that local pharmaceutical production can create high-value jobs in the fields of research and development, clinical trials, engineering and biotechnology, thereby retaining skilled professionals on the continent. The President is thus calling for collaboration between governments and the private sector to construct factories, improve supply chains and foster innovation to attain health sovereignty in Africa.
He emphasized the need to view health as an investment rather than a budgetary expense, urging participants at the summit to leave with a plan to transform Africa’s pharmaceutical industry into one that produces for its own growing market.
Written by urgent.news from GBC Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
