February 07, (THEWILL) – President of African Development Bank Group (AfDB), Dr Akinwumi Adesina, has warned that Africa risks outsourcing the security of the lives of its 1.4 billion people to the benevolence of others, if its leaders do not build the continent’s healthcare defence system.
He disclosed this in a speech at the weekend, titled, ‘Mobilising Financing for Africa’s Accelerated Economic Recovery, Development and Integration’, at the 25th Ordinary Session of the Assembly of the African Union in Addis Ababa.
Adesina regretted that while developed countries have moved to booster shots in the fight against COVID-19, Africa is still struggling with basic shots.
He outlined three strategic priorities for building the continent’s healthcare defence system: “First, building Africa’s quality healthcare infrastructure; second, building Africa’s pharmaceutical industry; and third, building Africa’s vaccine manufacturing capacity.”
He revealed that Africa needs $600 million to $1.3 billion to meet its goal of attaining 60 percent vaccine production by 2040, stressing that investing in health is investing in national security.
He also said AfDB plans to invest $3 billion to support pharmaceutical and vaccines manufacturing capacity in Africa.
Urging African leaders to “drastically mobilise more resources”, Adesina said: “To address the socio-economic impacts of the pandemic and support economic recovery, Africa will need some $484 billion over the next three years. To eliminate extreme poverty by 2030, the continent will need $414 – $784 billion per year. Africa will need $7-$15 billion a year to deal with climate change. The continent will also need between $68 – $108 billion per year to fix the infrastructure financing gap.”
