Afreximbank to sponsor vaccine production in Africa

Afreximbank to sponsor vaccine production in Africa

The Africa Export and Import Bank (Afreximbank) has pledged to fund the mass production of the COVID-19 vaccine in Africa. 

This came at the opening of the second day of Afreximbank Annual Meeting 2022 (AAM 2022), held at the St Regis Al Masa, New Administrative Capital, Cairo, Egypt.

The day was graced by the attendance of the Egyptian President Abdel Fattah Al Sisi, and top Heads of Financial Institutions across the continent as they discussed prospects for rolling out the program.

Speaking during the second session of Afreximbank Annual Meeting yesterday, the President and Chairman of the Board of Directors for Afrexim Bank, Prof Benedict Oramah, said the bank was committed to limiting challenges facing the continent by injecting enough funds into crisis intervention.

 He noted that the bank would continue to support the African Continental Free Trade Area (AfCFTA).

The bank’s president stressed that the pandemic had left scars in Africa which he said the bank would not hesitate to smoothen with the help of its shareholders across the continent.

The conference commenced on Wednesday as the bank was praised for its great achievements in African developmental strategies.

On Monday, Oramah said Afreximbank’s enhancement of intra-Africa trade would help in bolstering socio-economic development in Africa.

He noted that the youth were strategic in order for sustainable growth and development to be achieved.

“It is our view that the youth will be the catalytic force to the realization of the continental agenda. Indeed, the youth have always been the catalyst to economic transformations and at the base of every industrial revolution in advanced economies. It is no coincidence that at the height of each Industrial Revolution, youth constituted the largest proportion of the labour force and population,” Oramah said.